BANHAMS PATENT LOCKS HOLDINGS LIMITED
Company number: 08207714
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
29 July 2019
Approved by:
Tom Ward
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 75%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 80%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
103 days
Standard payment terms
60 days end of each month
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
90 days
Due to a new upgrade on our accounting package which was launched in January 2019, we have experienced delays in paying our suppliers on time during the teething process. But in the second half of the year, we do not anticipate similar delays.
Any other information about payment terms
N/A
Dispute resolution process
Suppliers are encourage to contact the Accounts Payable Team to discuss any queries. If further discussion is required the Procurement Department and Authorising Manager will be responsible for resolution. Should resolution not be reached, legal mediation may be required.
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