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MBA GROUP LIMITED

Company number: 02343859

Reporting period:
1 August 2018 to 31 January 2019

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

This report was filed on 18 February 2020

and approved by Paul Biggs

Payment statistics

Average time taken to pay invoices: 61 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 either 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/disputes are dealt with by the Finance Team in conjunction with the person who initiated the purchase. Resolution is either by Supplier Credit Note or internal department approval. Once the approval process has been completed, the agreed level of payment would be made on the next payment run. in accordance with relevant supplier payment cycle/terms. All queries regarding remittances are dealt with by the Finance Team.

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