CHARLES RUSSELL SPEECHLYS LLP
Company number: OC311850
Reporting period:
1 May 2018 to 31 October 2018
Report filed on:
30 November 2018
Approved by:
Tom Smith
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 24%
- in 61 days or more: 7%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 38%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Charles Russell Speechlys LLP aims to settle supplier invoices within 30 days from the date in which the invoice is received and when the goods / supply meets that which was ordered / requested at the outset.
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
30 days
No further comment provided
Any other information about payment terms
For the purpose of this report, the settlement of counsel and third party professional fees has not been included in instances when such costs are billed to our clients and whereby our their settlement is driven by the invoices of Charles Russell Speechlys LLP having been paid.
Dispute resolution process
Disputes must be raised with the Accounts Payable at the earliest convenience. Once raised, our Accounts Payable team will liaise with the Chief Finance Officer and/or the Head of the relevant Business Resource department in order to resolve the dispute.
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