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GOWLING WLG (UK) LLP

Company number: OC304378

Reporting period:
1 May 2023 to 31 October 2023

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This information is as reported by the business, and responses are in their own words.

This report was filed on 10 November 2023

and approved by Andrew Edginton

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

• within 30 days: 71%
• in 31 to 60 days: 12%
• in 61 days or more: 17%

Invoices due but not paid within agreed terms: 13 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Gowling WLG UK LLP standard payment terms are 30 days from date of invoice on normal qualifying contracts unless specifically agreed. See additional information below on payment of professional disbursements.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

A significant exception to our standard payment terms relates to the payment of professional disbursements. Professional disbursements are qualifying contracts for specialist professional advice relating to a specific client. Standard industry practice for payment of professional disbursements is that it is paid once the end client has paid for the advice.

Dispute resolution process

All issues are handled by the Partner or responsible contract owner that holds the relationship with the supplier. Any resolution is specific to and agreed upon with each supplier.

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.

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