INCE CO LLP
Company Information
- Company Number
- OC361858
- Employee Count
- 259
- Turnover
- £51,637,000
- EBITDA
- £11,547,000
Additional Details
- Website
- https://incelaw.com
- Industries
- Professional Services
- Region
- South East
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time taken for INCE & CO LLP to pay invoices has increased from 36.1 days in Mar 2017 to 38 days in Oct 2017, showing a slight upward trend.
Volatility Analysis
The company's average time to pay has fluctuated within a relatively small range, with the highest being 38 days and the lowest being 36.1 days. This indicates a moderate level of volatility in their payment process.
Summary Analysis
When looking at the data for the past three periods (Mar 2017 - Oct 2017), we can see that there has been a slight increase in the average time taken for INCE & CO LLP to pay invoices. However, the percentage of invoices paid within 30 days has remained stable at around 65%, with a slight decrease in the last period. The percentage of invoices paid between 31 and 60 days has also remained relatively stable at around 18%, with a slight increase in the last period. The biggest change is seen in the percentage of invoices paid later than 60 days, which has increased from 16.1% in Mar 2017 to 17% in Oct 2017. This indicates a slight delay in payments for the company.
Performance Reports History
| 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 2017 - 31 Oct 2017 | 20 Dec 2017 | 38 | 64% | 18% | 17% | 29% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
14 days from invoice date
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Dispute Resolution Process
Suppliers should contact one of the following: AccountsPayable@incelaw.com ; the named recipient of the invoice ; or the Director in charge of the Business Services function to which the invoice relates. If your dispute is not satisfactorily resolved, the query should be escalated to the Director of Finance.
Other Payment 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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
INCE & CO LLP is a leading international law firm that specializes in shipping, insurance, and energy sectors. Headquartered in London, their team of over 300 lawyers and business services professionals work across 14 offices worldwide to provide legal services to clients across the globe.
The firm offers a range of legal services, including dispute resolution, transactional, and advisory work. They have a strong focus on sustainability and have implemented various initiatives to reduce their environmental impact, such as reducing paper usage and promoting sustainable transport options for employees.
Their sustainability program also extends to their suppliers, with a commitment to working with environmentally responsible partners. INCE & CO LLP also offers pro bono services to support communities in need and works with various charities and organizations to support sustainable development.
Some of their key people include Jan Heuvels, the firm's Global Senior Partner, and Julie-Anne Smith, the head of their sustainability program. Their website, www.incelaw.com, provides information on their services, key people, and news updates. Their registered office address is at Aldgate Tower, 2 Leman Street, London E1 8QN, United Kingdom.
In summary, INCE & CO LLP is a reputable law firm that offers a range of legal services, with a strong focus on sustainability. Their commitment to reducing their environmental impact and supporting communities in need highlights their dedication to responsible business practices.
