M.P. MORAN & SONS LIMITED
Company number: 01218121
Reporting period:
1 July 2020 to
31 December 2020
This report was filed on 28 January 2021
and approved by Ian Sharrocks
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 62%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 39%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
MP Moran have various supplier payment terms ranging from a 7 day account to a 60 day account. This also includes various settlement discount for paying in agreed times. The most common payment terms are a 30 day end of following month account.
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
60 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
We follow a flow chart for approving invoices and this shows us what to do when a query occurs. A query can either be an internal one in which we will resolve ourselves in speaking to the correct department, and an external one where we are waiting on documents from the supplier i.e. a proof of delivery or credit note. We will contact the supplier before the invoice falls due, make them aware of why the invoice is on hold, and request what is needed in order to make payment. We do not pass any invoice that does not match our PO.
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