GOV.UK
BRYAN CAVE LEIGHTON PAISNER LLP
Company number: OC315919
Reporting period:
1 May 2018
to 31 October 2018
This report was filed on 20 November 2018
and approved by Lisa Mayhew
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 15%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 20 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Bryan Cave Leighton Paisner LLP pays trade suppliers within 30 days of receipt of an accurate and valid VAT invoice, unless agreed otherwise and where we are satisfied that the work has been performed in accordance with the agreement with the supplier. The firm's standard terms relating to payment for the suppliers of professional disbursement and counsel services are 2 business days from receipt of payment of those costs from our clients as required by the Solicitors Account Rules, unless agreed otherwise with the supplier. In calculating the above statistics we have:
- used the date of the invoice as the date of receipt of the invoice
- not added further days for payment clearing. This is to balance the above point as we would not have received the physical invoices on this date. The firm pays the vast majority of its suppliers via electronic means therefore limiting and controlling clearing times.
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
Firm policy is to pay trade suppliers within the agreed credit terms, usually 30 days. Minor payment delays may occur if the invoice is received shortly after the weekly payment run. Disputed amounts may also result in processing delays. There is no stipulated maximum contractual payment period.
We have included all payments relating to professional disbursements and counsel services within the overall payment statistics data but have removed these payments from the data representing 'invoices paid outside of agreed terms'. This is to reflect the fact that such invoices are always paid within 2 business days of payment of those costs from our client as required by the Solicitors Account Rules, compliance with which is audited annually.
Dispute resolution process
All disputes regarding payments to suppliers should be raised in the first instance with the individual with whom the contact of work has been agreed. If it cannot be resolved at that level it will be escalated to the Head of Finance Operations - EMEA and Asia.
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