MAYER BROWN INTERNATIONAL LLP
Company number: OC303359
Reporting period:
1 May 2024 to 31 October 2024
Report filed on:
28 November 2024
Approved by:
Dominic Griffiths
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 16%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 20%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
45 days
Standard payment terms
Our standard payment terms are 30 days unless otherwise agreed with the supplier
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
45 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Invoice queries should where possible be resolved with the immediate relationship contact. Failing satisfactory resolution, all queries, questions and disputes can be directed to the Head of Financial Operations. Nominated senior representatives from both parties shall try to resolve the matter. If the matter is not resolved within 20 business days (or longer as agreed by both parties), the matter may be referred to a meeting between the Management team from both parties.
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