DEVONSHIRES SOLICITORS LLP
Company number: OC397401
Reporting period:
1 October 2023 to 31 March 2024
Report filed on:
30 April 2024
Approved by:
Gary Grigor
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 68%
- in 31 to 60 days: 14%
- in 61 days or more: 18%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 16%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The standard business-related supplier payment terms for the majority of our suppliers is 30 days.
The firm also pays suppliers for invoices related to disbursements incurred in the conduct of a matter. These invoices are payable by our clients and are charged to our clients via a bill issued by the firm.
On receipt of bill payment from our clients payment is released to the supplier for their invoice(s) within 3 working days.
The average number of days taken to make payments to business-related suppliers in the reporting period was 11 days.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The cashier team process all supplier payments and any payment queries arising are actioned by that team.
Any business supplier invoice disputes are discussed between the budget holder and the supplier in consultation with the cashier team.
The budget holder will ensure there is a satisfactory resolution for both the supplier and the firm.
Any disbursement supplier invoice disputes are resolved by the fee earner with conduct of the matter and the disbursement supplier.
The budget holder and/or fee earner may also escalate any supplier invoice dispute to the Head of Compliance to reach a satisfactory resolution.
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