BIRKETTS LLP
Company number: OC317545
Reporting period:
1 June 2017 to 30 November 2017
Report filed on:
28 December 2017
Approved by:
C P Schwer
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 30%
- in 61 days or more: 7%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
25 days
Longest standard payment period
55 days
Standard payment terms
The Firm has one Accounts Payable payment run a month. This results in payment terms of between 25-55 days depending upon the date of invoice. Additionally, there are daily ad-hoc payment requests by the Fee Earners/Managers. These invoices are paid through the Nominal Ledger. We make best endeavours to pay suppliers of disbursements within two days of receipt of funds from the client in line with Solicitors Regulatory Authority (SRA) guidelines. At this point we are not including payment of suppliers of disbursements in the statistics.
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
55 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes should be referred to the Fee Earner / Manager approving the expenditure. If it is unresolved, the matter should be referred to the Finance Director.
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