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B W INTERIORS LIMITED

Company number: 04018003

Reporting period:
1 July 2018 to 31 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 31 January 2019

and approved by Andrew Bradley

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

• within 30 days: 33%
• in 31 to 60 days: 59%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 55 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

45 days

Standard payment terms

45 days from date of application for subcontractors
30 days from the end of the month for suppliers

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

120 days

120 days - To align with clients payment terms. All subcontractors consulted in advance.

Any other information about payment terms

N/A

Dispute resolution process

Details for dispute resolution are contained within our subcontractor orders.
Initial disputes are handled by the relevant Commercial Manager but are escalated to the relevant Commercial Director and then onto the Financial Director.
BW aims to resolve all disputes as quickly as possible.

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

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