ROYAL MENCAP SOCIETY
Company number: 00550457
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
17 October 2019
Approved by:
Graham Williams
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 18%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 44%
Payment terms
Shortest standard payment periods
28 days
Longest standard payment period
Answer not provided
Standard payment terms
For contracts negotiated by Mencap's procurement team, we aim for a standard 28 day payment period. Mencap does not set standard terms for the majority of other contracts. The most frequently used payment terms are a 30 day payment period and the maximum payment period entered into in the 6 months to 30.9.19 was 60 days.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes over payments are dealt with either by the accounts payable team or by the procurement team depending on the supplier. Where an organisation wide contract is in place with a preferred supplier, the buyer responsible for that supplier would normally deal with the issue. For smaller suppliers the accounts payable team normally deal with the issue, often with reference to the manager who placed the order for goods or services. Any issues regarding invoices or payments should in the first instance be directed to the accounts payable team and they will manage in the way that is most appropriate to the specific query, responding to the email within 48 hours.
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