MURGITROYD & COMPANY LIMITED

Company number: SC144082

Reporting period:
1 June 2018 to 30 November 2018

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This report was filed on 31 December 2018

and approved by Keith Young

Payment statistics

Average time taken to pay invoices: 35 days

Invoices paid:

• within 30 days: 63%
• in 31 to 60 days: 27%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 9%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

Goods and services are paid for after any queries thereon have been resolved. Payment of disbursements incurred on behalf of clients are settled after being recharged.

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

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Payment queries are initially dealt with by Accounts Department Purchase Ledger staff, who can liaise with the person who ordered and/or authorised the purchase of the goods and/or services. If this does not result in satisfactory resolution of a query it is passed to the "Director, Finance" and, thereafter, the Chief Financial Officer and/or Chief Executive.

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