BARRATT DEVELOPMENTS P L C

Company number: 00604574

Reporting period:
1 July 2017 to 31 December 2017

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This report was filed on 3 May 2018

and approved by Jessica White

Payment statistics

Average time taken to pay invoices: 23 days

Invoices paid:

• within 30 days: 73%
• in 31 to 60 days: 26%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 21%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

60 days

Standard payment terms

Barratt Developments Plc will pay for goods and services most frequently on the last working day of the month following the month in which the goods and services are delivered provided always that the Purchaser has been correctly invoiced by the Supplier and has received the invoice by the last working day of the month in which the Goods were delivered. If Barratt Developments Plc has not been correctly invoiced by this date, payment shall be made on the last working day of the month following the month in which the Purchaser has been correctly invoiced. Other payment terms have been agreed for bespoke contracts.

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

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

If a dispute arises between the parties, the parties will attempt, in good faith, to reach settlement as soon as possible between the Barratt Contact and the Supplier Contact (who shall be authorised to settle such a dispute). This dispute resolution procedure will be followed prior to commencing any legal proceedings. The Supplier agrees that it is only permitted to contact Barratt Contacts.

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: 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.

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