| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 May 2021 - 30 Sept 2021 | 24 Nov 2021 | 48 | 34% | 40% | 26% | 70% |
| 01 Nov 2020 - 30 Apr 2021 | 28 May 2021 | 47 | 48% | 31% | 21% | 43% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
In January 2021 Hollis adopted a 30 day standard payment period for it's payment terms in compliance with the public contract regulations 2015 and in support of a public tender.
Were there any changes to the standard payment terms in the reporting period?
We adopted standard payment terms in January 2021
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
If any claim or dispute arises under or in connection with these payment terms, the Parties will attempt to settle such claim or dispute by negotiation in accordance with the procedure set out in this clause 4. 4.1.1. Either Party may serve upon the other written notice referring a dispute arising under payment terms for resolution in accordance with this clause 4. 4.1.2. The Parties shall use commercially reasonable efforts to raise any disputes before any invoices relating to the goods or services in dispute become due. 4.1.3. A representative of each party shall meet in good faith within 15 business days of the notice referred to in clause 4.1.1 to resolve the dispute. 4.1.4. Nothing in this clause 4 shall prevent a Party from applying to any court of competent jurisdiction for injunctive or other urgent relief to protect its legitimate interests. 4.1.5. Unless otherwise agreed, the Parties shall fulfil their respective obligations under this Contract insofar as possible regardless of any dispute which is proceeding under the dispute resolution processes described in this clause 4.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
MALCOLM HOLLIS LLP is a dissolved limited liability partnership, incorporated on 22 July 2005, based in the London region.
From Companies House records.