GOV.UK
BRITNED DEVELOPMENT LIMITED
Company number: 04251409
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 23 July 2018
and approved by Nicola Whitehouse
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 17%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 16 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
42 days
Standard payment terms
30 days from Invoice date unless invoice was provided incorrectly then we go from 30 days from the date we received the correct invoice.
Were there any changes to the standard payment terms in the reporting period?
Yes –
Also see Further remarks about your payment terms
When placing order supplier is notified how to supply their invoice to Accounts Payable.
When Invoice is received by Accounts Payable it is checked and if something is not correct it is returned to Supplier with instructions on what they need to change to have.
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
42 days
Any other information about payment terms
N/A
Dispute resolution process
Upon placing an order with our supplier we send them a purchase order. Which mentions the correct way of providing us with their invoice to ensure a smooth payment process.
Purchase Order text:
" Other Comments or Special Instructions
Please quote PO number on all correspondence.
Invoices & all finance correspondence to be sent to the following email address:
box.britned.invoice@BritNed.com
To ensure a smooth payment process, please ensure invoices are addressed correctly (as above), reference the PO number and contain your bank details. We are happy to receive multiple invoices in a single email Accounts contact tel: +31 2620 20135"
Once invoice is received it is checked on proper format.
If anything is not correct we send email with attachment back to supplier with our Accounts Payable process guidelines.
When we first started this new process the first invoices were processed when they would be for older Purchase orders. . But after we stared sending out our new Purchase Orders with all the necessary information then we stopped processing incorrect provided invoices.
"Dear Sir Madam,
Unfortunately we cannot process your invoice.
We would like to inform you on the BritNed Accounts Payable process.
Please note that the missing/incorrect information is highlighted in red.
• If possible for your company to (re)send your invoices and statements/inqueries directly by email to box.britned.invoice@britned.com
We would like to set a few guidelines regarding invoices to ensure a smooth procedure.
- Make sure your invoice always mentions your bankdetails.
If this is already the case for your company, we thank you in advance.
If this is not possible for your company, always send your invoice + the necessary bankdetails ,on separate paper perhaps BUT always combined in 1 pdf file.
- Make sure you send 1 invoice in 1 pdf not combine them. Because they are uploaded into a recognition system, they need to be seperated.
- More than 1 invoice per email by multiple pdf files is not an issue.
- Make sure (the correct) BrtiNed Development Ltd Purchase Order number is mentioned on everyone of your invoices, please contact your BritNed contactperson for this number.
POH0450/S021/18
- Make sure the correct invoice address is mentioned.
UK:
BritNed Development Limited
35 Homer Road
Solihull
West Midlands
B91 3QJ
• When you send your email to box.britned.invoice@britned.com always mention your company name + invoice number in the subject...or that the document is a statement.
We would like to thank you in assisting BritNed in this process where possible.
Please do not hesitate to contact us if there are any questions."
Invoice is not processed until an amended invoice has been provided by the Supplier.
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