GOV.UK
RUNCORN MCP LIMITED
Company number: 09117961
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 27 January 2020
and approved by Michael Maher
Payment statistics
Average time taken to pay invoices: 70 days
Invoices paid:
- within 30 days: 13%
- in 31 to 60 days: 21%
- in 61 days or more: 65%
Invoices due but not paid within agreed terms: 78 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
90 days
Standard payment terms
Runcorn MCP Limited has standard payment terms of within 63 days from end of month of invoice. There may be exceptions where contractually different payment terms are established, these will apply on an individual basis as agreed.
This is quoted in Runcorn MCP Limited’s terms and conditions of purchase
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
-
Any other information about payment terms
As is the case with a number of businesses in this industry, weekly payment runs are performed paying everything due within the week on the Friday of that week.
Several payment runs are performed at month end to clear payables due at month end and within the first working week.
Invoices due but not paid within agreed terms:
· Based on number of Invoices – 78%
· Based on value of Invoices – 59%
Dispute resolution process
For dispute resolution Runcorn MCP Limited provides contact details for the accounts payable department on all purchase orders.
In addition suppliers are advised to notify the procurement contact indicated on the purchase order should they have any further enquires or require additional assistance.
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