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THE MEDICAL DEFENCE UNION LIMITED

Company number: 00021708

Reporting period:
1 January 2020 to 30 June 2020

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

This report was filed on 21 July 2020

and approved by Anthony Wright

Payment statistics

Average time taken to pay invoices: 20 days

Invoices paid:

• within 30 days: 80%
• in 31 to 60 days: 20%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 22 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

The MDU adopts their suppliers’ payment terms where explicitly stated on their invoices. New suppliers are set up in the accounting system by the finance team, and the supplier payment terms are included on the supplier record. All invoices registered against a given supplier will automatically have the payment terms on that supplier’s record applied to them.
Where no payment terms have been explicitly communicated by the supplier, the new supplier records will be set to ‘pay immediately’. In practice this means that the invoice will be paid, once approved, on the next weekly payment run.

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

With respect to contracts with suppliers, the general position is that the appropriate department managers for each supplier first attempt to resolve the dispute (the MDU point of contact varies from contract to contract). The contact would aim to deal with the dispute promptly, and in accordance with the terms of the contract.
Additionally, suppliers can contact MDU’s accounts team: accounts@themdu.com

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