MOUNT ANVIL LIMITED
Company number: 02706348
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by Ewan Anderson
Average time taken to pay invoices: 31 days
- within 30 days: 73%
- in 31 to 60 days: 19%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 31 %
Standard payment period for qualifying contracts
Standard payment terms
Under the standard contractual terms we commit to the payment of all undisputed sums properly
due to third party suppliers within 30 days of receipt of a valid invoice, unless a specific request has been made by the supplier to be paid sooner and of which has been agreed by Mount Anvil Ltd.
The supplier shall, following acceptance of any deliverables, be entitled to submit an invoice for
the appropriate charge. Each invoice shall contain the particulars required by statute in respect of VAT,
purchase order number, as prescribed in the agreement, and shall be sent to the address specified in the agreement (PO).
Payment of a correct invoice submitted in accordance to the above shall be made within 30 days from the date of receipt.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
All invoices must have a purchase order, which in turn authorises the invoice. Mount Anvil Ltd have a
dedicated Accounts Payable team who will reach out to the originator of the services/goods requested if it is not clear from the system why the invoice has been received without an appropriate order being raised and approved prior to receipt of an invoice.
Should it be required they will then seek assistance to resolve the dispute from the originator (typically
the person who ordered the goods or services and of whom has been named on the invoice). It may be
that a purchase order has to be raised retrospectively, or adjusted, to match the invoiced amount, or we request credit from the supplier.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?