KENNEDYS LAW LLP

Our standard payment terms are that goods and services will only be paid after any issues or queries have been resolved. All invoices are subject to an approval process within their respective departments and must be authorized before they can be paid. Authorized invoices will be paid net monthly on the weekly supplier payment run, except where different payment terms have been agreed in writing with a supplier. Any agreements for reduced payment terms (less than 30 days) will need prior approval from the CFO or Group Treasurer. The weekly payment run includes all Purchase Ledger invoices that fall due at the time or by the time the next payment run is made.

Payment of Counsel and other professional fees which are incurred as part of the services provided to our clients, fall outside the remit of our standard payment terms and shall be settled on a "pay when paid" basis in accordance with the SRA Accounts Rules and will be paid within 72 working hours of our invoice being settled.

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 Chief Financial Officer.