FLADGATE LLP
Company number: OC334334
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
26 October 2018
Approved by:
Simon Ekins
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 19%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 29%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
Answer not provided
Standard payment terms
We are a firm of Solicitors and our payment terms vary considerably. We are regulated by the SRA and comply with the SRA rules regarding .
Counsels fees are paid on a paid when paid basis when we are paid by our clients. This is standard for firms of Solicitors.
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
230 days
Counsels fees incurred are paid on a paid when paid basis. The days value stated above is the longest payment period for a counsel fee o/s.
These invoices which are included on our bills of costs are paid in accordance with Law Society rules. When a client pays us, we pay the supplier within 48 hours.
Any other information about payment terms
No further comment provided
Dispute resolution process
Any complaints or concerns are considered by the solicitor responsible or by the relevant budget holder. The usual timescale and next steps are dependent on the nature of the query.
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