GOV.UK
M&G REAL ESTATE LIMITED
Company number: 03852763
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 5 February 2020
and approved by Nick McMorran
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 89%
- in 31 to 60 days: 11%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 11 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
M&G Real Estate Limited’s payment practice information relates to information on UK linked payments made by European branches within M&G Real Estate Limited only. Reported data in the period relates to nine qualifying contract invoices.
M&G Limited acts as the central service company for the M&G Group, which includes M&G Real Estate Limited. M&G Limited pays the majority of UK based payments on behalf of M&G Group of companies for qualifying contracts. Please refer to the M&G Limited report for full payment practice details.
The M&G Group does not maintain a standard payment period for qualifying contracts, the most frequently used payment period for qualifying contracts is 30 days. Terms are counted from the date invoices are received into the central mailbox ap.invoices@mandg.co.uk
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Suppliers that wish to dispute a payment received from an M&G branch should, in the first instance, contact their local branch office who will consider the complaint and respond accordingly.
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