The data shows a fluctuation in the average time taken for LINKLATERS LLP to pay invoices to suppliers over the past three periods. In the first period, May 2017 to October 2017, the average time to pay was 47 days. This increased to 52 days in the fifth period, May 2019 to October 2019, before decreasing to 37 days in the ninth period, May 2021 to October 2021. However, in the most recent period, May 2023 to October 2023, the average time to pay has increased to 31 days.
The volatility of the average time to pay for LINKLATERS LLP can be seen in the variation of the percentage of invoices paid within 30 days, between 56% and 69%, and the percentage of invoices paid later than 60 days, between 8% and 21%, over the past three periods.
The average time taken for LINKLATERS LLP to pay invoices to suppliers has decreased from 47 days in the first period to 31 days in the most recent period, a decrease of 16 days. The percentage of invoices paid within 30 days has also increased from 60% in the first period to 71% in the most recent period, an increase of 11%. The percentage of invoices paid later than 60 days has fluctuated but has decreased from 21% in the first period to 8% in the most recent period. However, in the eighth period, November 2020 to April 2021, there was a significant increase in the percentage of invoices not paid within agreed terms, reaching 47%.
| 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 Nov 2024 - 30 Apr 2025 | 26 May 2026 | 34 | 68% | 21% | 11% | 34% |
| 01 May 2024 - 31 Oct 2024 | 26 May 2026 | 32 | 72% | 18% | 10% | 30% |
| 01 Nov 2023 - 30 Apr 2024 | 26 May 2026 | 31 | 73% | 19% | 8% | 28% |
| 01 May 2023 - 31 Oct 2023 | 28 Nov 2023 | 31 | 71% | 21% | 8% | 32% |
| 01 Nov 2022 - 30 Apr 2023 | 31 May 2023 | 32 | 70% | 21% | 9% | 33% |
| 01 May 2022 - 31 Oct 2022 | 28 Nov 2022 | 32 | 69% | 22% | 9% | 33% |
| 01 Nov 2021 - 30 Apr 2022 | 25 May 2022 | 42 | 62% | 24% | 14% | 39% |
| 01 May 2021 - 31 Oct 2021 | 29 Nov 2021 | 37 | 69% | 20% | 11% | 35% |
| 01 Nov 2020 - 30 Apr 2021 | 28 May 2021 | 46 | 60% | 22% | 18% | 40% |
| 01 May 2020 - 31 Oct 2020 | 30 Nov 2020 | 49 | 57% | 23% | 20% | 47% |
| 01 Nov 2019 - 30 Apr 2020 | 28 May 2020 | 47 | 57% | 24% | 19% | 31% |
| 01 May 2019 - 31 Oct 2019 | 21 Nov 2019 | 52 | 57% | 24% | 19% | 31% |
| 01 Nov 2018 - 30 Apr 2019 | 13 May 2019 | 46 | 57% | 23% | 20% | 32% |
| 01 May 2018 - 31 Oct 2018 | 26 Nov 2018 | 46 | 60% | 23% | 18% | 32% |
| 01 Nov 2017 - 30 Apr 2018 | 30 May 2018 | 50 | 56% | 23% | 21% | 21% |
| 01 May 2017 - 31 Oct 2017 | 01 Dec 2017 | 47 | 60% | 21% | 19% | 22% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are 30 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
4.5 Dispute Resolution 4.5.1 The parties must resolve any dispute in relation to any aspect of, or failure to agree any matter arising in relation to, this Agreement or any document agreed or contemplated as being agreed pursuant to this Agreement (a “Dispute”) by the parties first attempting to resolve any Dispute informally through discussions between the following individuals: (i) the Customer’s Representative and the Supplier’s Representative, who shall meet to resolve the Dispute; and (ii) if the parties specified in Clause 4.5.1(i) above cannot resolve the Dispute unanimously within five Business Days of the Dispute being referred to them then the Dispute shall promptly be referred by either party to the Chief Operating Officer of the Customer and the Chief Operating Officer of the Supplier, 4.5.2 If, within 10 Business Days of the Dispute having been referred to the individuals specified in Clause 4.5.1(ii) no agreement has been reached, the dispute resolution process shall be deemed to have been exhausted in respect of the Dispute, and each party shall be free to pursue the rights granted to it by this Agreement in respect of such Dispute without further reference to the dispute resolution process. 4.5.3 Nothing in this Clause 5.5 Dispute Resolution shall prevent either Party from applying to the court to protect its Intellectual Property Rights or the confidentiality of any of its confidential information.
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
LINKLATERS LLP is a leading global law firm that offers a wide range of legal services to clients around the world. The firm is committed to sustainability and has a comprehensive sustainability program in place.
One of the key focuses of LINKLATERS' sustainability program is reducing its environmental impact. The firm has implemented various measures to reduce its carbon footprint, such as using energy-efficient technologies and promoting sustainable transportation options for its employees. LINKLATERS also prioritizes waste reduction and recycling efforts in its offices.
In addition to its sustainability efforts, LINKLATERS offers a variety of high-quality legal services to its clients, including corporate law, banking and finance, and dispute resolution. The firm has a team of experienced and talented lawyers who are dedicated to providing excellent legal advice and support to their clients.
Some of the key people at LINKLATERS include Michael Kent, the firm's Global Managing Partner, and Gideon Moore, the firm's Chairman. Both have played a crucial role in driving the firm's sustainability initiatives and upholding its reputation as a top tier law firm.
LINKLATERS LLP's registered office address is 1 Silk Street, London EC2Y 8HQ, United Kingdom. The firm's website address is www.linklaters.com, where more information about its services, sustainability program, and key people can be found. Overall, LINKLATERS LLP is a reputable and sustainable law firm that is committed to providing exceptional legal services to its clients while also being environmentally conscious.
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