TROWERS & HAMLINS (SERVICES) LIMITED
Company number: 00680469
Reporting period:
1 April 2024 to 30 September 2024
Report filed on:
24 October 2024
Approved by:
Paul Marco and Adrian Carter
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 9%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 44%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Trowers & Hamlins LLP pay invoices within 30 days of receipt of a valid invoice or as per agreed terms with suppliers. A majority of Trowers & Hamlins LLP payments relate to client disbursements. Payment of Counsel Fees on behalf of our clients are treated differently to normal supplier payments. These invoices are paid as soon as we are in receipt of funds from our client. Due to the nature of client transactions this can mean payment of invoices several months after original receipt.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Where there is any dispute over an invoice then this would be handled directly with the suppliers contact at Trowers & Hamlins LLP who would then escalate within the business as required.
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