GOV.UK
SHEPHERD AND WEDDERBURN LLP
Company number: SO300895
Reporting period:
1 May 2017
to 31 October 2017
This report was filed on 30 November 2017
and approved by Stephen Gibb
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 78%
- in 31 to 60 days: 18%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 23 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
Shepherd and Wedderburn pay suppliers on supplier agreed payment terms. Supplier payment terms range from 'on demand' to 90 days. The most common supplier payment terms are 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
The person requesting third party goods/services is initially responsible for any complaints/disputes with suppliers, and, if required, escalated to the senior individual responsible for the expenditure.
When a supplier queries a delayed payment, Accounts Payable are responsible for responding to these queries and will consult with appropriate staff responsible for the expenditure in order to provide a full explanation and/or make the payment.
If a query is not satisfactorily resolved, it is escalated to the Finance Manager or Finance Director for further consideration.
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