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BNK (UK) LIMITED

Company number: 06527449

Reporting period:
1 January 2019 to 30 June 2019

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

This report was filed on 2 August 2019

and approved by A. Dashutin

Payment statistics

Average time taken to pay invoices: 5 days

Invoices paid:

• within 30 days: 100%
• in 31 to 60 days: 0%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Shortest standard payment period

3 days

Longest standard payment period

15 days

Standard payment terms

100% of the value of each batch to be dispatched shall be prepaid 3 working days before the start of dispatch according to Seller's invoice

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

No

Maximum contractual payment period agreed

30 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

All disputes and disagreements, which may arise out of or in connection with this Contract, shall, where possible, be settled by amicable negotiations.
In the event that amicable negotiations do not lead to a settlement, any dispute and disagreement shall be referred to the arbitration of three arbitrators (LCIA), one to be appointed by each of the parties, and the third by two arbitrators so appointed. The arbitrator shall have its seat in London in English.

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?

Yes

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No