INCE & CO LLP
Company number: OC361858
Reporting period:
1 May 2017 to 31 October 2017
Report filed on:
20 December 2017
Approved by:
Paul Herring
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 64%
- in 31 to 60 days: 18%
- in 61 days or more: 17%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 29%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
14 days from invoice date
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
The nature of our work is such that invoices relating to professional disbursements (e.g. expert fees, third party professional counsel fees, Barristers etc) are paid as soon as our client has settled our invoices. This is common with the majority of other legal firms.
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers should contact one of the following: AccountsPayable@incelaw.com ; the named recipient of the invoice ; or the Director in charge of the Business Services function to which the invoice relates. If your dispute is not satisfactorily resolved, the query should be escalated to the Director of Finance.
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