GOV.UK
N. M. ROTHSCHILD & SONS LIMITED
Company number: 00925279
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 23 January 2024
and approved by JOHN KING
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 16%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 23 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
NM Rothschild & Sons Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices. In the absence of agreed terms with a supplier, the Company’s policy is to pay within 30 days of receipt of a valid invoice. The most frequently agreed term with suppliers is 30 days from receipt of a valid invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
All invoices issued to N M Rothschild & Sons Limited are sent in the first instance to the appropriate individual / team that ordered the goods or services for approval and authorisation. In the event of any dispute, NM Rothschild & Sons Limited will aim to resolve as quickly as possible. As a result, the initial attempt to resolve any dispute will be by the individual / team who ordered the goods or services and they will enter into a formal discussion with the supplier. In the rare event that resolution is not agreed then it is escalated to senior management and Accounts Payable for resolution. Once the dispute has been resolved, the invoice will be paid in the next payment run.
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