MCARTHURGLEN UK LIMITED
Company number: 02810264
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
31 January 2022
Approved by:
Gary Bond
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 64%
- in 31 to 60 days: 17%
- in 61 days or more: 19%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 43%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
McArthurGlen UK Limited (MGUK) will pay for goods and services within 30 days of receipt of a correct, undisputed and properly due VAT invoice, unless otherwise agreed in writing by a duly authorised representative. Invoices should state: the correct company name and address, the PO number (if possible), a brief description of services or goods, the period to which the invoice relates (if applicable), the VAT number (if under reverse charge mechanism) and the supplier's bank details. There are no special terms given to suppliers based on their size. The 30 days will begin on the next working day after the invoice is received.
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
44 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
MGUK is committed to acting fairly and with integrity in its interaction with all its suppliers. We therefore endeavor to resolve all disputes in a fair and timely manner. Disputes are resolved by discussion and agreement with a supplier, and are typically managed by the Accounts Payable team, in liaison with the relevant MGUK operational manager.
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