MAYER BROWN INTERNATIONAL LLP
Company number: OC303359
Reporting period:
1 May 2017 to 31 October 2017
Report filed on:
30 November 2017
Approved by:
Sally Davies
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 21%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 27%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are 30 days and we aim to pay suppliers on or before the due date of a valid internally approved VAT invoice unless agreed otherwise with a trade supplier.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
Suppliers of specialist legal advice and services (Professional Experts and Counsel) undertaken on behalf of our clients are treated as suppliers of our clients. Invoices received are billed and the supplier paid upon receipt of the cash from our client. This can extend/reduce the period of time taken to pay the third party supplier.
Any other information about payment terms
No further comment provided
Dispute resolution process
We aim to resolve all issues without delay. Any issue, complaint or dispute should initially be directed to the Mayer Brown member of staff managing the contract. Failing satisfactory resolution of the issue we would expect matters to be escalated to a Director or Head of the relevant Business Services division to assist.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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