ALLEN & OVERY LLP
Company number: OC306763
Reporting period:
1 May 2017 to 31 October 2017
Report filed on:
29 November 2017
Approved by:
Andrew Ballheimer
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 4%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 10%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days after receipt of relevant invoice from the supplier.
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
We pay valid, undisputed invoices within the agreed payment period. If we dispute any item in an invoice, we aim to (a) promptly inform the supplier of the disputed item and (b) work with the supplier to (1) explain why the relevant item has been disputed; and (2) reach a mutually acceptable outcome. Suppliers are encouraged to contact Accounts Payable on invoicequeries@allenovery.com with any questions relating to the payment of invoices.
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