BUCKINGHAM GROUP CONTRACTING LIMITED
Company number: 02181671
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
30 January 2019
Approved by:
Andrew Kerr
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 59%
- in 61 days or more: 24%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 18%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
The most frequently used payment terms in the reporting period were 28 days (Rail Sector) and 45 days (Construction Sector) from period end
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
No further comment provided
Dispute resolution process
The company seeks to resolve disputes by discussing them directly with the relevant supplier. This involves communication with members of the accounts payable team, procurement and the commercial teams with escalation to senior management if necessary. In the rare instance where it is not possible to reach agreement, dispute resolution methods such as adjudication may be used.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Network Rail Fair Payment Charter
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