BROWN AND MASON LIMITED

Company number: 00686405

Reporting period:
1 November 2017 to 30 April 2018

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This report was filed on 31 May 2018

and approved by L. Hadden

Payment statistics

Average time taken to pay invoices: 103 days

Invoices paid:

• within 30 days: 9%
• in 31 to 60 days: 8%
• in 61 days or more: 83%

Invoices due but not paid within agreed terms: 66%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

Payment will be made on the relevant payment run 60 days from the end of the month following the date of the invoice. The invoice must be received in accordance with the cut off dates for each month which are supplied yearly. For an invoice to be accepted it must have the correct purchase order number quoted clearly on the invoice. Where applicable the job ticket/delivery note should be provided with the invoice.

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

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

When an invoice is in dispute it is flagged upon input to the purchase ledger system as a query. Reports are run at the month end close and emails are sent to suppliers detailing the nature of the dispute. To resolve the supplier needs to provide the information requested or a credit note.

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