Company number: 02410626
1 January 2022
to 30 June 2022
This report was filed on 28 July 2022
and approved by Richard Bienfait
Average time taken to pay invoices: 29 days
- within 30 days: 83%
- in 31 to 60 days: 11%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 19 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
30 days are our most frequently used terms, although we have agreed longer terms with some of our suppliers. Some suppliers insist on payment on receipt of invoice and these are processed on the next available payment run.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
As part of this submission we also present our payment performance for small suppliers, defined as companies with less than 50 employees, in accordance with the Prompt Payment Code:
Average days to pay invoices: 22
% of invoices paid in 30 days or fewer: 86%
% of invoices paid between 31 and 60 days: 9%
% of invoices paid 61 days or longer: 5%
% of invoices due which were not paid within the agreed payment period: 23%
Dispute resolution process
Our dispute resolution process is published on our website here: https://www.macegroup.com/people/suppliers
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.
Yes – 1) Prompt Payment Code 2) Construction Supply Chain Payment Charter
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?