MBA GROUP LIMITED
Company number: 02343859
Reporting period:
1 August 2017 to 31 January 2018
Report filed on:
8 March 2018
Approved by:
Paul Biggs
Payment statistics
Average time taken to pay invoices: 75 days
Invoices paid:
- within 30 days: 0%
- in 31 to 60 days: 26%
- in 61 days or more: 74%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 98%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
Standard terms are 60 or 90 days from end of month in which the invoice is dated
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
"Invoice and payment queries are handled by Accounts Payable. Invoice query resolution is either via Supplier credit note or internal departmental agreement to reason provided by Supplier, for non-credit. Once finally approved for processing/payment, payment will be included in the next payment run, in accordance with the relevant supppliers payment cycle. Payment query in terms of remittances are dealt with by A/P and future payment committments are communicated by A/P in accordance with business requirements.
"
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