MBA GROUP LIMITED
Company number: 02343859
Reporting period:
1 February 2018 to 31 July 2018
Report filed on:
29 January 2020
Approved by:
Paul Biggs
Payment statistics
Average time taken to pay invoices: 62 days
Invoices paid:
- within 30 days: 10%
- in 31 to 60 days: 30%
- in 61 days or more: 60%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 50%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
Standard terms are 60 or 90 days from the end of the month in which the invoice is dated.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
All queries are dealt with by the Finance Department. Resolution is either by Supplier Credit Note or internal departmental agreement. Once the approval process has been followed, the agreed level of payment will be made in the next payment run, in accordance with the relevant supplier payment cycle. Payment queries in terms of remittances are dealt with by Accounts Payable and future payment commitments are communicated by Accounts Payable in accordance with business requirements.
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