BROOKS MACDONALD ASSET MANAGEMENT LIMITED
Company number: 03417519
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
2 August 2023
Approved by:
Claire Aquilina
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 8%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 10%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The majority of our payment terms agreed with suppliers requires payment within 30 days. Payment terms are agreed with each supplier upon commencement of the supply on an individual basis.
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
365 days
Certain contracts entered into by the company are annual invoices that are settled through a monthly direct debit over the period covered by the invoice.
Any other information about payment terms
No further comment provided
Dispute resolution process
In the event of a dispute, the supplier is expected to get in touch with their usual Brooks Macdonald Asset Management contact (which will vary from supplier to supplier) to discuss the issue. The business contact will aim to deal with the dispute promptly and escalate to Finance or Compliance as needed to ensure swift 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 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