BALFOUR BEATTY GROUP LIMITED

Company number: 00101073

Reporting period:
1 July 2018 to 31 December 2018

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This report was filed on 30 January 2019

and approved by Philip Harrison

Payment statistics

Average time taken to pay invoices: 50 days

Invoices paid:

• within 30 days: 36%
• in 31 to 60 days: 46%
• in 61 days or more: 18%

Invoices due but not paid within agreed terms: 50%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

60 days

Standard payment terms

Balfour Beatty Group Limited does not have standard payment terms, these are agreed with suppliers as part of contract negotiations. The most frequently used payment terms in the reporting period were 30 days. Payment runs are typically on a weekly basis by BACS.

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

60 days

60 days after end of month from invoice date, these relate to a very small % of suppliers.

Any other information about payment terms

The statistical information provided includes payments to both purchase ledger and sub-contract suppliers with the received date of supplier invoices being the date a valid e-invoice was received via our e-invoice portal. In December 2018 the supply chain finance scheme was closed without any negative impact on the suppliers.

Dispute resolution process

Balfour Beatty Group Limited is committed to fair dealing with all of its supply chain members and transparency and timely resolution of disputed items are key principles in this process: • Disputed invoices will be identified by internal business stakeholders initially and these will be raised directly with the relevant supplier. • Suppliers are also able to query invoices with our Central Accounts Payable team in which case they are passed to the relevant business stakeholders for resolution. • If a resolution cannot be reached between business stakeholder and the supplier, as a point of escalation the disputed invoices should then be raised with the local Procurement contact by the business stakeholder, containing details of the invoice in question and the nature of the dispute. • Disputes will be assessed internally between the stakeholder and the local Procurement contact to judge accuracy and value. • If the disputed invoice is deemed appropriate, the Procurement contact will liaise with the account management (or other appropriate contact) within the supplier organisation to review and resolve. • If a resolution cannot be reached between the Procurement contact and the supplier organisation, appropriate escalations within the respective organisations will be made. • Where it is not possible to reach agreement, a number of potential dispute resolution methods ( for example, mediation, adjudication, expert determination, litigation and /or arbitration) 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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

Yes, this business has signed up to: The Prompt Payment Code

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.

Yes

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