BETA This is a new service – your feedback will help us to improve it.

MBA GROUP LIMITED

Company number: 02343859

Reporting period:
1 February 2018 to 31 July 2018

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 29 January 2020

and 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%

Invoices due but not paid within agreed terms: 50 %

Payment terms

Shortest standard payment period

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

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

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 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