HOGAN LOVELLS INTERNATIONAL LLP
Company number: OC323639
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
30 July 2020
Approved by:
Susan Bright
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 16%
- in 61 days or more: 7%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 21%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days standard terms Payments are made as part of the weekly payment runs once the invoice reached 30 days. This may add additional days to the payment cycle depending on the day of the week the payment is due.
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
30 days
Payment of 3rd party Counsel and other professional fees that are incurred as part of the services provided to the Firm's clients are settled on a "pay when paid" basis. These invoices have been excluded as the contract is between the supplier and the client.
Any other information about payment terms
No further comment provided
Dispute resolution process
All supplier queries should be addressed to accounts.payable@hoganlovells.com. An Accounts Payable Coordinator will aim to respond to your query within 24 hours. If a satisfactory response is not received the issue should be escalated to the Accounts Payable Team Leader or Finance Operations 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 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