M & S LOGISTICS LIMITED

Company number: 03597897

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 25 July 2019

and approved by Louwrens Verwey

Payment statistics

Average time taken to pay invoices: 46 days

Invoices paid:

• within 30 days: 38%
• in 31 to 60 days: 50%
• in 61 days or more: 11%

Invoices due but not paid within agreed terms: 41%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

60 days

Standard payment terms

Payment terms is generally set at 30 days EOM

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

Answer not provided

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

N/A

Dispute resolution process

Rates are agree with the procurement department and entered into the system. If an invoice arrives that do not match the system rates it is referred internally to the procurement and the operations department. Once they confirm the charge is not correct a formal notification is sent to the supplier that the charge is not correct with an explanation. If the supplier does show the charge is correct our system is update and the invoice is passed for payment in all other cases a credit note is issued by the supplier which is processed with the invoice for payment.

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, 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