WALKER MORRIS LLP
Company number: OC338981
Reporting period:
1 May 2022 to 31 October 2022
Report filed on:
28 November 2022
Approved by:
Amy Lewis
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 7%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
All suppliers to the Firm are paid within 30 days either by BACS or by Direct Debit. Matter related professional disbursements eg. Counsel fees are paid once we have received payment from our client. The exceptions being if we are delayed in being paid we will, with Partner and Finance Office Manager approval, settle the invoice.
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
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
If the payments team leader is unable to pay the invoice due to a dispute she will initially contact the supplier and the Walker Morris budget holder to identify the issues causing the delay in payment. If the issue is resolved then payment will be made, if not it would be escalated to the FD or Partner in charge of that business area.
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