GOV.UK
CMS CAMERON MCKENNA NABARRO OLSWANG LLP
Company number: OC310335
Reporting period:
1 May 2019
to 31 October 2019
This report was filed on 30 April 2020
and approved by Craig Perry
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 9%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 10 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
(Extracted from our Master Services Agreement but are our standard terms)
11. Charges
11.1 The Supplier shall calculate and invoice the Customer for the Charges set out in a Statement of Work in accordance with that Statement of Work.
11.2 Subject to Clause 11.4, the Customer shall pay the Charges within 30 days of receipt of a valid invoice from the Supplier.
11.3 To be valid, each invoice must accurately specify the Charges and the following information as appropriate (or such other varied information as the Customer may reasonably specify in advance from time to time): the date of the invoice; the Services, Key Milestones or Deliverables to which the relevant Charges relate; a description of the relevant expenses (if any) with sufficient detail to clearly identify the nature of the expenses and the specific elements of the Services to which they relate; and VAT (if any).
11.4 If the Customer, acting reasonably, disputes any invoice, in whole or in part, it shall notify the Supplier of the disputed invoice as soon as reasonably possible. The Customer shall pay any undisputed amount under an invoice in accordance with Clause 11 and the Parties shall use all reasonable endeavours and act in good faith to resolve any disputed invoice. The Customer shall pay any monies that are agreed to be paid in respect of the disputed element of such invoice as soon as reasonably possible and in any event within 30 days following resolution of a disputed invoice.
11.5 Each Party shall be entitled, without prejudice to any other right or remedy, to charge interest on any payment not made when properly due under this Agreement, calculated from day-to-day at a rate per annum equal to three per cent (3%) above the Bank of England base rate from time to time, from the day after the date on which payment was due up to and including the date of payment.
11.6 All amounts stated to be payable by either Party under this Agreement shall be exclusive of any VAT properly chargeable on any amount. Each Party shall pay to the other Party any VAT properly chargeable on any supply made to it under this Agreement, provided that it shall first have received from the other Party a valid VAT invoice.
11.7 The Supplier shall provide the Customer with all supporting information reasonably required by the Customer to verify Charges invoiced.
11.8 Except as otherwise expressly provided in this Agreement, the Parties shall bear their own costs and expenses in compliance with their obligations under this Agreement and the Customer shall not be obliged to reimburse the Supplier for expenses unless agreed in advance in writing
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
(Extracted from our Master Services Agreement but is the process we follow for all disputes)
Dispute resolution process
34. Disputes
34.1 Any Dispute may be dealt with in accordance with the following non-binding escalation procedure:
34.1.1 Level 1: any Dispute shall be referred by either Party first to the Project Managers of each of the Parties for resolution, who shall use reasonable endeavours to resolve the Dispute;
34.1.2 Level 2: if the Dispute cannot be resolved by the Project Managers of the Parties within seven (7) days after the Dispute has been referred to them the issue shall be referred to [name of person]of the Customer and [name of person] of the Supplier, who shall use reasonable endeavours to resolve the Dispute; and
34.1.3 Level 3: if the Dispute cannot be resolved by the Customer’s and Supplier’s representatives referred to in Clause 34.1.2 within seven (7) days after the Dispute has been referred to them the issue shall be referred to the Managing Partner of the Customer and the Chief Executive Officer of the Supplier for resolution, who shall use reasonable endeavours to resolve the Dispute.....
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