BRYAN CAVE LEIGHTON PAISNER LLP
Company number: OC315919
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
29 July 2019
Approved by:
David Rowe
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 26%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 37%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Bryan Cave Leighton Paisner LLP pays trade suppliers within 30 days of receipt of an accurate and valid VAT invoice, unless agreed otherwise and where we are satisfied that the work has been performed in accordance with the agreement with the supplier.
The firm's standard terms relating to payment for the suppliers of professional disbursement and counsel services are 2 business days from receipt of payment of those costs from our clients as required by the Solicitors Accounts Rules, unless agreed otherwise by the supplier.
In calculating the above statistics we have:
- used the date of the invoice as the date of receipt of the invoice.
- not added any payment clearing days
- considered that the two above points provide fair balance as we would very rarely receive an invoice on the invoice date itself.
- the firm pays the vast majority of its suppliers via electronic means therefore limiting and controlling clearing times.
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
Firm policy is to pay trade suppliers within the agreed credit terms, usually 30 days.
Minor payment delays may occur if the invoice is received or approved via our automated system shortly after the weekly payment run.
Disputed amounts/invoices may also result in processing delays.
There is no stipulated maximum contractual period.
Any other information about payment terms
Please note that through this reporting period the firm has undertaken a major combination and as a result a large upgrade and system merger process.
Throughout April- June 2019 payment cycles and reporting of them will have been heavily disrupted and this is evidenced in these reported figures.
The figures reported in our previous submissions more accurately reflect the expected turnaround times on invoice processing and payment.
It is expected that the next report, due in January 2020, highlights this point.
Dispute resolution process
All disputes regarding payments to suppliers should be raised in the first instance with the individual with whom the contract of work has been agreed. If it cannot be resolved at that level it will be escalated to the Head of Finance Operations EMEA & ASIA.
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