BRITISH ARAB COMMERCIAL BANK PUBLIC LIMITED COMPANY
Company number: 01047302
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
25 January 2021
Approved by:
Mrs Celeste Du Plessis
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 20%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 34%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
BACB's preferred payment terms are 30 days and no less than 14 days. We strive to ensure all payments are made within a timely manner and within terms
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
Our suppliers' payment terms range between 0 days and 30 days, including 7, 14, 15, 21 and 28 days also, sometimes making it difficult to pay within those terms.
Any other information about payment terms
N/A
Dispute resolution process
For any invoices in dispute, the spend owner or myself will contact either the credit control department or Account Manager requesting clarification of costs or a credit note. Invoices are entered onto the system but not approved until the dispute is resolved.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No