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BRYAN CAVE LEIGHTON PAISNER LLP

Company number: OC315919

Reporting period:
1 January 2022 to 30 June 2022

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

This report was filed on 27 July 2022

and approved by Mike Stolte

Payment statistics

Average time taken to pay invoices: 33 days

Invoices paid:

• within 30 days: 49%
• in 31 to 60 days: 45%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 51 %

Payment terms

Standard payment period for qualifying contracts

0 days

Standard payment terms

Bryan Cave Leighton Paisner LLP pays trade suppliers within 30 days of receipt of an accurate and valid VAT invoice, unless agreed otherwise and where we are satisfied that the work has been performed in accordance with the agreement with the supplier.
The firm's standard terms relating to payment for the suppliers of professional disbursement and counsel services are 2 business days from receipt of payment of those costs from our clients as required by the Solicitors Accounts Rules, unless agreed otherwise by the supplier.
In calculating the above statistics we have:
- used the date of the invoices as the date of receipt of the invoice.
- Considered that the two above points provide fair balance as we would very rarely receive an invoice on the invoice date itself.
- the firm pays the vast majority of its suppliers via electronic means therefore limiting and controlling clearing times

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

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

All disputes regarding payments to suppliers should be raised in the first instance with the individual with whom the contract of work has been agreed. If it cannot be resolved at that level it will be escalated to the Accounts Payable Manager.

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