STEPHENSON HARWOOD LLP exhibits a slow payment trend, with an average payment time of 72 days. Only 24% of invoices are settled within 30 days, while a significant 76% are paid beyond 30 days, including 34% over 60 days, indicating a consistent trajectory towards extended payment cycles.
Payment reliability is low, as nearly half (49%) of all payments are late, and the average payment time is 72 days. This wide spread in payment timelines, from 24% within 30 days to 34% over 60 days, signals high unpredictability and significant risk to a supplier's cash flow forecasting.
Suppliers should anticipate an average 72-day payment cycle and a high probability of late payments when dealing with STEPHENSON HARWOOD LLP. It is crucial to factor in these extended payment terms and potential delays when making credit decisions or managing working capital. Consider risk mitigation strategies such as negotiating stricter payment terms, requiring deposits, or adjusting pricing to account for the increased credit risk.
| 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 2025 - 30 Apr 2026 | 28 May 2026 | 38 | 30% | 62% | 8% | 31% |
| 01 May 2025 - 31 Oct 2025 | 27 Nov 2025 | 38 | 32% | 59% | 9% | 17% |
| 01 Nov 2024 - 30 Apr 2025 | 23 May 2025 | 72 | 24% | 42% | 34% | 49% |
| 01 May 2024 - 31 Oct 2024 | 25 Nov 2024 | 64 | 33% | 33% | 34% | 48% |
| 01 Nov 2023 - 30 Apr 2024 | 30 May 2024 | 62 | 34% | 34% | 32% | 51% |
| 01 May 2023 - 31 Oct 2023 | 27 Nov 2023 | 68 | 37% | 27% | 36% | 51% |
| 01 Nov 2022 - 30 Apr 2023 | 26 May 2023 | 64 | 40% | 29% | 31% | 46% |
| 01 May 2022 - 31 Oct 2022 | 30 Nov 2022 | 66 | 39% | 27% | 34% | 49% |
| 01 Nov 2021 - 30 Apr 2022 | 30 Nov 2022 | 86 | 36% | 27% | 37% | 54% |
| 01 May 2021 - 31 Oct 2021 | 30 Nov 2021 | 69 | 34% | 29% | 37% | 53% |
| 01 Nov 2020 - 30 Apr 2021 | 27 May 2021 | 78 | 43% | 27% | 30% | 46% |
| 01 May 2020 - 31 Oct 2020 | 27 May 2021 | 69 | 38% | 30% | 32% | 48% |
| 01 Nov 2019 - 30 Apr 2020 | 29 May 2020 | 66 | 47% | 27% | 26% | 41% |
| 01 May 2019 - 31 Oct 2019 | 30 Nov 2019 | 58 | 52% | 21% | 27% | 37% |
| 01 Oct 2018 - 30 Apr 2019 | 30 May 2019 | 45 | 51% | 30% | 19% | 38% |
| 01 May 2018 - 31 Oct 2018 | 30 Nov 2018 | 51 | 46% | 37% | 17% | 33% |
| 01 Nov 2017 - 30 Apr 2018 | 30 May 2018 | 43 | 52% | 34% | 14% | 26% |
| 01 May 2017 - 31 Oct 2017 | 30 Nov 2017 | 47 | 66% | 16% | 18% | 21% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The principal activity of Stephenson Harwood LLP is the provision of legal services in the United Kingdom and internationally, both directly and through its subsidiary undertakings. Our standard payment terms for trade suppliers are 37 days unless alternative terms are agreed between the vendor and Stephenson Harwood LLP. Payment for all goods and services will be made only after any issues or queries have been resolved to the satisfaction of both parties. Approved and due invoices are paid weekly via BACS or other bank transfer methods. Please note that payment of disbursements incurred on behalf of clients are excluded from our standard terms. Disbursements are settled on a ‘pay when paid’ basis. In line with UK SRA Accounts Rules, these are paid within a reasonable timeframe (within 2 days) after Stephenson Harwood LLP receives payment from the client.
Were there any changes to the standard payment terms in the reporting period?
The standard payment terms were reduced from 42 days to 37 days
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
37
All invoices in dispute are passed to the appropriate team that requested the goods or services in order for them to resolve the dispute. It may then be referred onto the senior management of the firm if necessary.
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
STEPHENSON HARWOOD LLP is a limited liability partnership. Its name and company type confirm its operation as a legal services provider within the UK legal sector.
This active organisation was incorporated on 21 March 2012, holding company number OC373597. Its registered office is located in London at 1 Finsbury Circus, EC2M 7SH.
As a legal services provider, STEPHENSON HARWOOD LLP offers specialist legal advice and representation. It typically supports businesses and individuals with their legal requirements across various practice areas in the UK market.
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