MURGITROYD & COMPANY LIMITED
Company number: SC144082
Reporting period:
1 December 2017
to 31 May 2018
This report was filed on 29 June 2018
and approved by Keith Young
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 59%
- in 31 to 60 days: 31%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 11 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Goods and services are paid for after any queries thereon have been resolved. Payment of disbursements incurred on behalf of clients are settled after being recharged.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Payment queries are initially dealt with by Accounts Department Purchase Ledger staff, who can liaise with the person who ordered and/or authorised the purchase of the goods and/or services. If this does not result in satisfactory resolution of a query it is passed to the "Director, Finance" and, thereafter, the Chief Financial Officer and/or Chief Executive.
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