M & S LOGISTICS LIMITED
Company number: 03597897
Reporting period:
1 July 2020 to
31 December 2020
This report was filed on 31 January 2021
and approved by Louwrens Verwey
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 42%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 31%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
Payment terms is generally set at 30 days EOM
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
Rates are agree with the procurement department and entered into the system. If an invoice arrives that do not match the system rates it is referred internally to the procurement and the operations department. Once they confirm the charge is not correct a formal notification is sent to the supplier that the charge is not correct with an explanation. If the supplier does show the charge is correct our system is update and the invoice is passed for payment in all other cases a credit note is issued by the supplier which is processed with the invoice for payment.
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