MARTIN-BROWER UK LTD
Company number: 01601427
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
27 July 2020
Approved by:
Mark Horgan
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 48%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 13%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
The standard payment terms are 30 or 46 days depending upon type of supply. Terms may vary by individual negotiation.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers are required to quote a valid purchase order number on their invoices which are matched to the Goods Received account. If there is a discrepancy upon matching the Accounts Payable team advises the supplier and requests a credit note or revised invoice. If the query remains unresolved, the matter is escalated through the Supply, Quality and Operational teams as appropriate. The company seeks to resolve queries promptly and professionally.
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.
Yes
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