MAZARS LLP
Company number: OC308299
Reporting period:
1 March 2023 to 31 August 2023
Report filed on:
13 September 2023
Approved by:
Toby Stanbrook
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 18%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 33%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Unless separately agreed with suppliers, we aim to make payment within 30 days of receipt of a correct, undisputed and properly due invoice. The maximum contractual payment period agreed is 60 days and the minimum standard payment period is 7 days. There have been no changes to the standard payment terms in the reporting period.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
It should be noted that our results include data from a small number of suppliers to our insolvency practice where payment is made on settlement of the insolvency (which can span over a significant period). Should we remove this data, our average number of days to pay would be 36.
Dispute resolution process
Any dispute related to payment would be discussed between the supplier and the main contact in Mazars (usually the person who ordered the goods or services). If no resolution of the dispute is achieved through this process the matter would be escalated to a senior member of the finance team, according to the amounts in dispute.
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, 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