BROWN AND MASON LIMITED
Company number: 00686405
1 May 2019
to 31 October 2019
This report was filed on 29 November 2019
and approved by L. Hadden
Average time taken to pay invoices: 84 days
- within 30 days: 9%
- in 31 to 60 days: 23%
- in 61 days or more: 68%
Invoices due but not paid within agreed terms: 47 %
Shortest standard payment period
Longest standard payment period
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 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?
Maximum contractual payment period agreed
Any other information about payment terms
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 and emails are sent out to suppliers detailing the nature of the dispute. To resolve the dispute 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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?