MACFARLAN SMITH LIMITED

Company number: SC035640

Reporting period:
1 October 2023 to 31 December 2023

---

This report was filed on 12 November 2024

and approved by David Payne

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

• within 30 days: 7%
• in 31 to 60 days: 69%
• in 61 days or more: 23%

Invoices due but not paid within agreed terms: 32%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

Answer not provided

Standard payment terms

At this time, we do not have standard payment terms across our business. There is a wide range of payment terms offered by, and negotiated with, our suppliers.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

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

N/A

Dispute resolution process

Payment disputes are typically initially referred to the finance function, who will try to resolve them by agreement through discussion with the supplier. If resolution cannot be reached within a reasonable period, the matter will typically be escalated to the procurement function, who will try to reach resolution by agreement through further discussion with the supplier. As necessary, appropriate further dispute resolution mechanisms provided for in the contract will be used (i.e. reference to mediation, arbitration or litigation).

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, 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