MUSGRAVE RETAIL PARTNERS NI LIMITED
Company number: NI029718
Reporting period:
1 January 2023
to 1 July 2023
This report was filed on 20 July 2023
and approved by Andrew Keating
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 12%
- in 31 to 60 days: 81%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 1 %
Payment terms
Shortest standard payment period
2 days
Longest standard payment period
90 days
Standard payment terms
OUR STANDARD PAYMENT TERMS ARE END OF MONTH PLUS 30 DAYS (EOM30). ALL INVOICES DUE FOR PAYMENT PROCESSING WILL BE INCLUDED IN OUR PAYMENT FILE SUBMISSION TO OUR BANKING PARTNER ON OUR TUESDAY/THURSDAY PAYMENT RUNS, WITH CLEARED FUNDS IN SUPPLIER BANK ACCOUNT WITHIN 3 WORKING DAYS OF THE SUBMISSION TO THE BANK
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
CERTAIN VARIATIONS TO OUR STANDARD TERMS EXIST AND ARE ONLY APPLIED WHEN NEGOTIATED AND AGREED BY BOTH PARTIES.
Any other information about payment terms
N/A
Dispute resolution process
SUPPLIER PAYMENT ISSUES THAT ARISE IN THE FIRST INSTANCE ARE ADDRESSED BY THE FINANCIAL SHARED SERVICES TEAM. DEPENDING ON THE ISSUE, OTHER RELEVANT DEPARTMENTS MAY BE INVOLVED TO RESOLVE ANY DISPUTES AS REQUIRED.
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.
Yes
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