GOV.UK
CHARLES RUSSELL SPEECHLYS LLP
Company number: OC311850
Reporting period:
1 May 2021
to 31 October 2021
This report was filed on 17 December 2021
and approved by Thomas Smith
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 24%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 26 %
Payment terms
Standard payment period for qualifying contracts
14 days
Standard payment terms
STANDARD TERMS (Non-Chargeable Invoices)
The Firm will only accept liability for goods and / or services delivered upon the issue of an invoice appropriately addressed to the related contact which is aligned to the instruction provided and agreed.
Unless specified otherwise, the Firm’s standard terms of settlement are 30 days from the invoice date. The Firm reserves the right to question invoices issued in relation to goods or services provided which are not aligned to the original instruction. Invoices from Barristers and other professionals which the Firm recharges to our clients will be settled when our client has settled our invoices, unless specified otherwise with the supplier. Invoices from Barristers and other professionals are not included in the published statistics for this reason, but are available upon requests.
Were there any changes to the standard payment terms in the reporting period?
Yes – Accepted 14 day terms with one specific supplier
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Any disputes will be dealt with by the appropriate Business Resource Director and the Finance Department. Any delays in settlement through no fault of the supplier may be escalated to the Chief Finance Officer for further review. Complaints or concerns will be considered by the Partner or Business Support Director most closely involved with the supply. Where this does not result in a resolution that is satisfactory to the supplier, the supplier may escalate the complaint or concern to the firm’s Chief Finance Officer who will endeavour to respond within 30 days.
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
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