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DENTONS EUROPE LLP

Company number: OC316822

Reporting period:
1 January 2018 to 31 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 12 February 2019

and approved by Tomasz Dabrowski

Payment statistics

Average time taken to pay invoices: 52 days

Invoices paid:

• within 30 days: 53%
• in 31 to 60 days: 25%
• in 61 days or more: 22%

Invoices due but not paid within agreed terms: 47 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Our standard payment terms are 30 days. However, there are services the firm incurs on behalf of a client. The agreement with the supplier is to receive payment after the client has settled their costs with the firm. This could increase payment days and distort our reporting figures.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

30 days

Payment of suppliers that are overhead costs to the firm (example utility bills, marketing costs) will be paid, after approval, in the nearest payment run once 30 days have passed.

Any other information about payment terms

N/A

Dispute resolution process

Disputes are referred to the person who initiated the supply. The budget holder will only approve payment if the supply has been deemed to be fully made. This could be escalated to the Finance Director if the dispute is ongoing.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

Does this business offer e-invoicing in relation to qualifying contracts? This is where suppliers can electronically submit and track invoices. It’s not just allowing suppliers to email them an invoice.

No

Does this business offer supply chain finance? This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

No

Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No