MUSGRAVE RETAIL PARTNERS NI LIMITED

Company number: NI029718

Reporting period:
30 June 2019 to 28 December 2019

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

This report was filed on 27 January 2020

and approved by David O'Flynn

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

within 30 days: 11%
in 31 to 60 days: 80%
in 61 days or more: 9%

Invoices due but not paid within agreed terms: 4%

Payment terms

Shortest standard payment periods

2 days

Longest standard payment period

90 days

Standard payment terms

OUR STANDARD PAYMENT TERMS ARE END OF MONTH PLUS 30 DAYS (EOM30). ALL INVOICES DUE FOR PAYMENT PROCESSING WILL BE INCLUDED IN OUR PAYMENT FILE SUBMISSION TO OUR BANKING PARTNER ON OUR TUESDAY/THURSDAY PAYMENT RUNS, WITH CLEARED FUNDS IN SUPPLIER BANK ACCOUNT WITHIN 3 WORKING DAYS OF THE SUBMISSION TO THE BANK

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

90 days

CERTAIN VARIATIONS TO OUR STANDARD TERMS EXIST AND ARE ONLY APPLIED WHEN NEGOTIATED AND AGREED BY BOTH PARTIES. OUR MAXIMUM CONTRACTUAL AGREEMENT IS END OF MONTH PLUS 60 DAYS (90 DAYS)

Any other information about payment terms

N/A

Dispute resolution process

SUPPLIER PAYMENT ISSUES THAT ARISE IN THE FIRST INSTANCE ARE ADDRESSED BY THE FINANCIAL SHARED SERVICES TEAM. DEPENDING ON THE ISSUE, OTHER RELEVANT DEPARTMENTS MAY BE INVOLVED TO RESOLVE ANY DISPUTES AS REQUIRED.

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?