SHOOSMITHS LLP
Company number: OC374987
Reporting period:
1 November 2022 to 30 April 2023
Report filed on:
26 May 2023
Approved by:
Peter Duff
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 72%
- in 31 to 60 days: 17%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 14%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
90 days
Standard payment terms
Shoosmiths LLP have, what the firm believes to be, fair and reasonable payment practices and an established standard payment term from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
Shoosmiths LLP maximum payment term is 90 days, however there are certain services supplied to the firm, where the payment is dependent on the outcome of a legal matter.
Any other information about payment terms
n/a
Dispute resolution process
Shoosmiths LLP's process of dealing with potential queries begins by contacting our representative who originally approved the service or goods to be provided. In addition, our Accounts Payable department can assist by email or phone, please refer to the contact details below: Accounts Payable Department - accountspayablequerysection@shoosmiths.co.uk, Phone: 03700 863160. Should your query still not be resolved, it will be referred to our Finance Director for further consideration.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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