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MARKS & CLERK LLP
Company number: OC343273
Reporting period:
1 August 2017
to 31 January 2018
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 1 March 2018
and approved by Mark Kenrick
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 6%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 16 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
30 days after invoice date
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
In the first instance any dispute/complaint would be dealt with by the office accountant & where this involved local office consumables (e.g. office stationary) this would also be in conjunction with the local Office Manager. If the office accountant/office manager are unable to resolve the issue then it would be escalated to the Financial Operations Manager and if necessary beyond that it would be referred to the Head of Finance and/or Finance Partner
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