MACDONALD & MUIR LIMITED
Company number: SC019038
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
18 July 2018
Approved by:
Jean-Marc Rene Boulan
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 58%
- in 61 days or more: 10%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 53%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
83 days
Standard payment terms
Our standard payment terms range from 1 day to 83 days. We have 1 day term which means immediate payments for local authorities and some utilities suppliers. Term 83 days are for intercompany payments. Most frequently used payment term will be 30 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
1,095 days
Maximum contractual payment period relates to car leases entered during the reporting period for 3 years.
Any other information about payment terms
We conduct 2 payment runs in a month ie. mid month and end of month. Therefore, the % of invoices not paid within the agreed terms will be impacted by invoices which became due just after the cut-off of the payment runs and falls into the next run.
Dispute resolution process
If an invoice is under dispute, we would contact the supplier in question to request further details or supporting documents. We would also inform them the reason for us disputing it. The person who had contracted with the supplier will be informed to involve them in the dispute to resolve the issue. Disputes would normally be resolved within 6 months.
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