BRITISH ARAB COMMERCIAL BANK PUBLIC LIMITED COMPANY

Company number: 01047302

Reporting period:
1 July 2020 to 31 December 2020

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This report was filed on 25 January 2021

and approved by Mrs Celeste Du Plessis

Payment statistics

Average time taken to pay invoices: 28 days

Invoices paid:

• within 30 days: 77%
• in 31 to 60 days: 20%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 34%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

30 days

Standard payment terms

BACB's preferred payment terms are 30 days and no less than 14 days. We strive to ensure all payments are made within a timely manner and within terms

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

30 days

Our suppliers' payment terms range between 0 days and 30 days, including 7, 14, 15, 21 and 28 days also, sometimes making it difficult to pay within those terms.

Any other information about payment terms

N/A

Dispute resolution process

For any invoices in dispute, the spend owner or myself will contact either the credit control department or Account Manager requesting clarification of costs or a credit note. Invoices are entered onto the system but not approved until the dispute is resolved.

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