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BROOKS MACDONALD ASSET MANAGEMENT LIMITED

Company number: 03417519

Reporting period:
1 January 2019 to 30 June 2019

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

This report was filed on 24 July 2019

and approved by Ben Thorpe

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

• within 30 days: 76%
• in 31 to 60 days: 20%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 24 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

The majority of our payment terms agreed with suppliers requires payment within 30 days. Payment terms are agreed with each supplier upon commencement of the supply on an individual basis.

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

No

Maximum contractual payment period agreed

365 days

Certain contracts entered into by the company are annual invoices that are settled through a monthly direct debit over the period covered by the invoice.

Any other information about payment terms

N/A

Dispute resolution process

In the event of a dispute, the supplier is expected to get in touch with their usual Brooks Macdonald Asset Management contact (which will vary from supplier to supplier) to discuss the issue. The business contact will aim to deal with the dispute promptly and escalate to Finance or Compliance as needed to ensure swift resolution.

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