MILLFIELD
Company number: 00522385
Reporting period:
1 March 2019
to 31 August 2019
This report was filed on 30 September 2019
and approved by Melissa Johnson
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 86%
- in 31 to 60 days: 10%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 26 %
Payment terms
Standard payment period for qualifying contracts
28 days
Standard payment terms
Millfield is committed to meeting its obligations as they fall due. The standard payment term is net 28 days. Suppliers with alternative payment dates are used and agreement to non-standard payment terms is based upon the discretion of the budget-holder, custom and practice, size of supplier and nature of product or service being provided.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
Any other information about payment terms
N/A
Dispute resolution process
When the Finance Office is made aware of a dispute, the budget holder is notified: the budget holder is responsible for following up under and resolving any disputes with the supplier. Where the budget holder is unable to resolve the dispute, assistance will be sought from the Financial Controller, Finance Director and Legal Advisors as appropriate.
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