MARMON GROUP LIMITED(THE)

Company number: 01376182

Reporting period:
1 January 2020 to 30 June 2020

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This report was filed on 30 July 2020

and approved by Gary Phillips

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 35%
• in 31 to 60 days: 41%
• in 61 days or more: 24%

Invoices due but not paid within agreed terms: 57%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

75 days

Standard payment terms

Standard payment terms are 60days EOM. We have various other payment types depending on the nature of the goods and services contracted.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

75 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Disputes over payments are directed to the accounts payable department. Details are taken. Accounts payable will communicate with the supplier regarding how the invoice needs to be resolved, time scales and when to expect payment. Any disputes regarding payment terms are directed to the purchasing manager.

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, 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