MAJEDIE ASSET MANAGEMENT LIMITED
Company number: 04446767
Reporting period:
1 October 2018 to 30 March 2019
Report filed on:
6 June 2019
Approved by:
Chris Simmons
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 13%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
The most common terms are for Majedie Asset Management (“Majedie”) to pay valid and appropriately issued invoices within 30 calendar days of receipt, except where specifically agreed otherwise with the supplier. Terms are ordinarily agreed in advance, sometimes as stated on supplier term sheets, invoices or website, or more formally on a contractual basis. Any payment terms agreed in excess of 30 days should not ordinarily exceed 60 days. The majority of payments are made directly by Majedie although some are actioned by suppliers under direct debit mandates. To ensure prompt payment, supplier invoices and queries should be emailed to finance@majedie.com.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Majedie aims to resolve disputes on a timely basis through discussion with the relevant supplier.
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