CMC MARKETS UK PLC
Company number: 02448409
Reporting period:
1 April 2023 to 30 September 2023
Report filed on:
17 October 2023
Approved by:
Albert Soleiman
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 16%
- in 61 days or more: 7%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
1 Day This is normaly for professional services and some market data costs 7 Days for Contractors through Recruitment consultants 14 Days for Direct contractors, travel providers and market data costs. 30 Days For the majority of CMC suppliers 45 Days IT supplier allows this terms 60 Days Finance suppliers with this terms
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Each department will handle disputes with their supplier directly. The CMC Accounts payable Team will advise the relevant supplier Credit Control department of the reason for non-payment of their invoice.
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