Company number: 02410626
1 January 2018
to 30 June 2018
This report was filed on 26 July 2018
and approved by Dennis Vincent Hone
Average time taken to pay invoices: 45 days
- within 30 days: 50%
- in 31 to 60 days: 36%
- in 61 days or more: 14%
Invoices due but not paid within agreed terms: 43 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Mace Limited does not have standard payment terms as these are dependent on the specific requirements of individual projects. However, 30 days are our most frequently used terms.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Mace actively resolve disputes as quickly as possible. This typically involves our accounts payable manager, along with our commercial teams where necessary. Where unable to reach a resolution there is an escalation process in place to senior management.
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.
Yes – Prompt Payment Code and the Construction Supply Chain Payment Charter. (Note these codes relate to undisputed invoices only, whereas the statistics in this report include disputed invoices).
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?