Industry ranking
Over the past three periods, there has been a consistent decrease in the average time taken for DECHERT (PARIS) LLP to pay invoices to suppliers. This indicates an improvement in the company's payment efficiency.
The volatility in the percentage of invoices paid within 30 days has been relatively low, with only a 2% change between the highest and lowest values. However, there has been more volatility in the percentage of invoices paid between 31 and 60 days, with a 6% change between the highest and lowest values.
From Jan 2018 to Dec 2020, DECHERT (PARIS) LLP has shown a consistent improvement in their payment efficiency, with the average time to pay decreasing from 31 days to 24 days. The percentage of invoices paid within 30 days has also increased from 70% to 73%, while the percentage of invoices paid later than 60 days has decreased from 12% to 10%. This shows a trend of early payments and a decrease in delayed payments, indicating a positive change in the company's payment practices.
| 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 Jul 2020 - 31 Dec 2020 | 25 Jan 2021 | 24 | 73% | 17% | 10% | 27% |
| 01 Jan 2020 - 30 Jun 2020 | 15 Jul 2020 | 24 | 71% | 20% | 9% | 29% |
| 01 Jan 2019 - 31 Dec 2019 | 29 Jan 2020 | 27 | 68% | 23% | 9% | 32% |
| 01 Jan 2018 - 31 Dec 2018 | 21 Nov 2019 | 31 | 70% | 18% | 12% | 30% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Dechert's standard supplier payment terms for non-client contracts states that payment is to be made within 30 days of the vendor issuing an applicable invoice
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
Payment processing is dealt with by the Accounts Payable function and any supplier payment queries that pay arise are actioned by that team. In the event they are unable to resolve the matter, the query will be discussed between the supplier and the relevant function manager or finance personnel to ensure satisfactory resolution for both the supplier and the firm.
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
Dechert (Paris) LLP is a UK-registered limited liability partnership, incorporated in 2007, that forms part of the Dechert global law firm group. The wider Dechert group is an international legal practice advising asset managers, financial institutions, private equity sponsors, life sciences companies and multinational corporations, with lawyers based across the United States, Europe, Asia and the Middle East. This entity's registered office is in London, reflecting its role within the group's international network of offices, which includes a Paris presence. The group provides advisory services spanning financial services, private capital, real estate, life sciences and technology sectors, alongside litigation, regulatory and transactional legal work for corporate clients.
Generated from the company's website and Companies House records. Sources: dechert.com · dechert.com