Company number: OC353214
and approved by Nick Thomas
Average time taken to pay invoices: 96 days
Invoices paid:
Invoices due but not paid within agreed terms: 56%
0 days
60 days
Our standard payment terms are that goods and services will only be paid after any issues or queries have been resolved. All invoices are subject to an approval process within their respective departments and must be authorized before they can be paid. Authorized invoices will be paid net monthly on the weekly supplier payment run, except where different payment terms have been agreed in writing with a supplier. The weekly payment run includes all Purchase Ledger invoices that fall due at the time or by the time the next payment run is made. Payment of Counsel and other professional fees which are incurred as part of the services provided to our clients, fall outside the remit of our standard payment terms and shall be settled on a "pay when paid" basis in accordance with the SRA Accounts Rules and will be paid within 72 working hours of our invoice being settled.
Answer not provided
N/A
60 days
As we have adopted a pay when paid policy for Counsel and other professional fees the time taken to pay these suppliers will be in excess of the maximum contractual payment period. The time between us receiving an invoice from our supplier and them being paid cannot be defined as it is dependent on when we are paid by our client. As such there is no maximum contractual payment period for these suppliers.
N/A
Any payment disputes shall in the first instance be referred to the member of staff managing the contract. If the parties are unable to reach a resolution, it may be referred to the relevant head and, where necessary, the firm's Chief Financial Officer.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No