MCLEAN RESTAURANTS LIMITED

Company number: 04331680

Reporting period:
1 January 2018 to 30 June 2018

This information is as reported by the business, and responses are in their own words.

This report was filed on 31 July 2018

and approved by Sarah McLean

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

within 30 days: 92%
in 31 to 60 days: 7%
in 61 days or more: 1%

Invoices due but not paid within agreed terms: 8%

Payment terms

Shortest standard payment periods

2 days

Longest standard payment period

30 days

Standard payment terms

small suppliers i.e window cleaners and newspapers suppliers etc get paid within a week of receiving invoices, otherwise the majority of companies get paid within 30 days unless the invoice is being queried

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

60 days

one company gives us 60 days to pay

Any other information about payment terms

N/A

Dispute resolution process

If we have a query with a invoice we will contact the supplier and work with them to resolve the issue and then pay the invoice. If somebody has an issue with one of our invoices we investigate and resolve as soon as we can

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.

Yes

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.

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?