BETA This is a new service – your feedback will help us to improve it.

BRODIES LLP

Company number: SO300334

Reporting period:
1 November 2019 to 29 April 2020

---

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

This report was filed on 29 May 2020

and approved by David Edwards

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

• within 30 days: 79%
• in 31 to 60 days: 16%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 42 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

90 days

Standard payment terms

Payment terms are agreed with suppliers as part of contract negotiations. The most commonly used terms are 30 days. Once authorised by the relevant department head, trade invoices are paid when due through weekly supplier payment run.

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

The firm's Accounts Payable department should be the first point of contact if a supplier has a dispute relating to payment. The business representative who ordered the goods/services from the supplier then works to resolve with their contact at the supplier. If the parties are unable to reach a resolution, it may be referred to the relevant head and, where necessary, the firm's 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 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