MARTIN MCCOLL LIMITED
Company number: 00298945
Reporting period:
25 November 2019 to
24 May 2020
This report was filed on 13 August 2020
and approved by Stuart Butler
Payment statistics
Average time taken to pay invoices: 52 days
Invoices paid:
- within 30 days: 7%
- in 31 to 60 days: 82%
- in 61 days or more: 11%
Invoices due but not paid within agreed terms: 15%
Payment terms
Shortest standard payment periods
42 days
Longest standard payment period
Answer not provided
Standard payment terms
Our shortest standard payment terms are 42 days. We negotiate separate payment terms individually with suppliers
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
56 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Claims for disputed invoices are raised to the supplier detailing its nature - quantity discrepancy (short delivery) or a pricing query. If the claim relates to a pricing query this is submitted to the supplier along with the supporting evidence from the buyers and remains on hold until resolved. If quantity discrepancy then where full delivery is missing we request a proof of delivery and hold payment until received, if part delivery is missing the invoice is processed and paid in full and credit is claimed. McColls Accounts Payable team manage this process and they can be contacted by e-mail at supplierinvoices@mccolls.co.uk or by phone at 01277 288 893.
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.
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