MACLAY MURRAY SPENS LLP
Company Information
- Company Number
- SO300744
- Employee Count
- 0
- Turnover
- £0
- EBITDA
- £0
Additional Details
- Industries
- Professional Services
- Region
- Scotland
Time to Pay
Payment Timeline
Payment Features
Company Review
Trend Analysis
The average time taken for MACLAY MURRAY & SPENS LLP to pay invoices has increased steadily over the past three periods, from 25 days in Jun 2017-Nov 2017 to 26.5 days in Dec 2017-May 2018 and 27 days in Jun 2018-Nov 2018.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been minimal, with only a 2% difference between the highest (82%) and lowest (78%) values. However, there has been a slight increase in the percentage of invoices paid later than 60 days, from 8% in Jun 2017-Nov 2017 to 9% in Jun 2018-Nov 2018.
Summary Analysis
In the past three periods, MACLAY MURRAY & SPENS LLP has shown a consistent trend of taking longer to pay invoices. However, there has been minimal volatility in the percentage of invoices paid within 30 days. The company has also shown a slight increase in the percentage of invoices paid later than 60 days.
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 Jun 2017 - 30 Nov 2017 | 20 Dec 2017 | 25 | 82% | 10% | 8% | 36% |
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
Our standard payment terms are that good and services will only be paid for after delivery, and after any issues or queries have been resolved. Except where different payment terms have been agreed in writing with a supplier, authorized invoices will be paid on the weekly supplier payment run closest to 30 days after the invoice date. Payment of costs which are incurred as part of the services offered to our clients, generally fall outside the remit of our standard payment terms and shall be settle on a "paid when paid" basis in accordance with the SRA Accounts Rules and will be paid within 48 working hours of our invoice being settled.
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
Any payment disputes shall in the first instance be referred to the member of staff managing the contract. If the parties are unable to reach a resolution, it may be referred to the relevant head and, where necessary, the firm's Head 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
MACLAY MURRAY & SPENS LLP is a leading law firm in the UK, offering a wide range of legal services to both domestic and international clients. The firm is committed to sustainability and has implemented various initiatives to reduce its environmental impact.
Their sustainability program includes measures such as reducing energy consumption, promoting the use of public transport, and minimizing waste. They also have a policy of using eco-friendly products and services whenever possible. The firm has been recognized for its efforts in sustainability, winning awards such as the Scottish Legal Awards' Green Award.
In terms of products and services, MACLAY MURRAY & SPENS LLP offers a comprehensive range of legal services in areas such as corporate law, employment law, intellectual property, and commercial property. They also have a dedicated team for international and cross-border transactions.
The firm is led by a team of experienced partners, including the managing partner, Kenneth Shand, who has been with the firm for over 25 years. The partners are supported by a team of highly skilled lawyers and professionals who are committed to providing high-quality legal services to their clients.
MACLAY MURRAY & SPENS LLP can be contacted through their website, which provides detailed information about their services, team, and sustainability efforts. Their registered office address is Quartermile One, 15 Lauriston Place, Edinburgh EH3 9EP. Overall, MACLAY MURRAY & SPENS LLP is a reputable law firm with a strong commitment to sustainability and providing excellent legal services to their clients.
