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MACTAGGART, SCOTT & COMPANY LIMITED

Company number: SC055532

Reporting period:
1 May 2017 to 31 October 2017

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

This report was filed on 1 February 2018

and approved by Gary Robinson

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

• within 30 days: 27%
• in 31 to 60 days: 50%
• in 61 days or more: 23%

Invoices due but not paid within agreed terms: 23 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

60 days

Standard payment terms

It is the Company's policy to agree appropriate terms of payment with suppliers and to abide by those terms based on the timely submission of satisfactory invoices and supporting documentation. The Company normally settles trade payables on 30 or 60 day terms.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts team, it would be escalated in the first instance to the relevant Head of Department to seek a resolution.

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