SLATER AND GORDON UK LIMITED

Company number: 07931918

Reporting period:
1 January 2018 to 30 June 2018

---

This report was filed on 28 July 2018

and approved by Kenneth Fowlie

Payment statistics

Average time taken to pay invoices: 61 days

Invoices paid:

• within 30 days: 44%
• in 31 to 60 days: 33%
• in 61 days or more: 23%

Invoices due but not paid within agreed terms: 56%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

90 days

Standard payment terms

Historically, Slater and Gordon UK Limited's standard payment terms have been 30 days from invoice receipt to payment, but this has varied from 7 days to 90 days on some contractual arrangements and was not explicitly defined in others. Further the terms applied and depended on the nature of the Products and Services provided. In 2017, the decision was taken to transition to 45 day payments terms on new contracts and to request suppliers to extend payment terms to 45 days on contracts due for renewal, typically at contract anniversary. This is an on-going process which will take at least 3 years to complete. Whilst 45 days will be the business standard term there will be exceptions where there is commercial benefit to both parties in agreeing alternative terms.

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

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

If a payment dispute arises it is referred to the budget holder, who would normally manage the supply relationship on a day to day basis. In instances, this responsibility is delegated to a member of the relevant department/ team. Payment disputes will be escalated in accordance with the contractual terms which vary by supply/service. If necessary, the budget holder will request the advice/ support of the Procurement & Commercial team who are experienced in dealing with the commercial management of suppliers and may have been a party to the original agreement.

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