FRESHFIELDS BRUCKHAUS DERINGER LLP
Company number: OC334789
Reporting period:
1 November 2019 to 30 April 2020
Report filed on:
29 May 2020
Approved by:
Stephan Eilers
Payment statistics
Average time taken to pay invoices: 67 days
Invoices paid:
- within 30 days: 36%
- in 31 to 60 days: 23%
- in 61 days or more: 41%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 70%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Standard supplier payment period is 45 days
Were there any changes to the standard payment terms in the reporting period?
Standard payment terms changed from 30 to 45.
Were suppliers notified or consulted about these changes before they were made?
Negotiated with suppliers on a case by case basis
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Payment processing is dealt with by the Accounts Payable function and any supplier payment queries that may arise are actioned by that team. In the event they are unable to resolve the matter, the query will be discussed between the supplier and/or procurement and/or relevant functional manager to ensure satisfactory resolution for both the supplier and the firm.
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