GOV.UK
BABCOCK MARINE TRAINING LIMITED
Company number: 03086376
Reporting period:
1 April 2019
to 30 September 2019
This report was filed on 29 October 2019
and approved by Mark Graves
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 15%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 22 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Standard T&Cs are 60 days for new suppliers.
We currently have a range of T&Cs in place with existing suppliers including terms at 7 days, 30 days and 60 days.
Were there any changes to the standard payment terms in the reporting period?
Yes –
Transfer by agreement to 60 Days Net
Were suppliers notified or consulted about these changes before they were made?
Yes – Changes to payment terms have been made by agreement via a contract amendment
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Relationships with our suppliers are important to us. We rely on our suppliers to deliver high quality goods and services in order to meet the needs of our own customers. Suppliers should be notified in the event of any disputes, and our purchase contracts specify dispute escalation processes. We commit to treating suppliers fairly, and intend to resolve any identified disputes as quickly as possible. Point of Contact details are provided on purchase orders.
This process is reviewed annually.
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 – 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