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RUNCORN MCP LIMITED

Company number: 09117961

Reporting period:
1 January 2018 to 30 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 30 July 2018

and approved by Mike Maher

Payment statistics

Average time taken to pay invoices: 68 days

Invoices paid:

• within 30 days: 12%
• in 31 to 60 days: 27%
• in 61 days or more: 61%

Invoices due but not paid within agreed terms: 64 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

90 days

Standard payment terms

Runcorn MCP Limited has standard payment terms of 63 days from end of month of invoice. There may be exceptions where contractually different payment terms are established.
This is quoted in Runcorn MCP Limited's terms and conditions of purchase.l

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

As is the case with a number of businesses in this industry, weekly payment runs are performed paying everything due within the week on the Friday of that week.
Several payment runs are performed at month end to clear payables due at month end and within the first working week.

Dispute resolution process

For dispute resolution, Runcorn MCP Limited provides contact details for the accounts payable department on all purchase orders.
In addition, suppliers are advised to notify the procurement contact indicated on the purchase order should they have any further enquiries or require additional assistance.

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