MAVEN SECURITIES HOLDING LIMITED
Company number: 07505438
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
31 January 2024
Approved by:
IAN TOON
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 85%
- in 31 to 60 days: 12%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 18%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
As a starting point, Maven’s standard payment terms are 30 days. However we will generally accept the supplier's own terms provided that these are not considered unreasonable. In general, Maven consider that 30 days is an acceptable length of time between receipt of invoice and payment as this allows for all internal approvals to be obtained.
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
58 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
"All invoices, queries or complaints should be sent to bills@mavensecurities.com in the first instance.
In rare cases we may withhold payment of supplier invoices because of discrepancies between the invoice and the order/contract. In such cases the person responsible for the supplier relationship or the requestor of the good/service will engage with the supplier contact on a timely basis in order to resolve the dispute.
Where invoices are found to be overdue because they have not been received by Accounts Payable, suppliers are requested to ensure that all future invoices are emailed to bills@mavensecurities.com"
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.
Yes
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