BAM CONSTRUCT UK LIMITED
Company number: 03311781
1 January 2020
to 30 June 2020
This report was filed on 30 July 2020
and approved by J Wimpenny
Average time taken to pay invoices: 38 days
- within 30 days: 47%
- in 31 to 60 days: 45%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 37 %
Standard payment period for qualifying contracts
Standard payment terms
Payment terms are agreed with sub-contractors and suppliers as part of contract negotiations and to comply with any statutory and contractual requirements. The most frequently used payment terms in the reporting period for contracts relating to the supply of goods and services are 30 days and for contracts for the supply of goods only 60 days
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
BAM Construct UK Limited proactively seeks to avoid disputes by discussing any disagreements or issues with the relevant sub-contractor or supplier and, in particular, it has regular dialogue with its key supply chain partners at senior management level. Where it is not possible to reach agreement on any dispute there are a number of potential dispute resolution methods available to the parties including mediation, adjudication, expert determination and litigation.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?