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BOAL U.K. LIMITED

Company number: 02194180

Reporting period:
1 January 2018 to 30 June 2018

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

This report was filed on 27 July 2018

and approved by Simon Bradley

Payment statistics

Average time taken to pay invoices: 37 days

Invoices paid:

• within 30 days: 49%
• in 31 to 60 days: 41%
• in 61 days or more: 10%

Invoices due but not paid within agreed terms: 37 %

Payment terms

Shortest standard payment period

1 days

Longest standard payment period

91 days

Standard payment terms

Our main personnel supplier is on immediate payment.
Small suppliers are usually on 30 days net.
Large suppliers are on 60 days net or 60 days end of month, which gives payment terms of between 61 and 91 days.
Small suppliers are paid by BACS on the Wednesday of the week that the invoice falls due, meaning that they receive funds on the Friday of the week that the invoice falls due.

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

No

Maximum contractual payment period agreed

91 days

This relates to suppliers on 60 day end of month terms. These generally apply to large suppliers.

Any other information about payment terms

N/A

Dispute resolution process

Disputed invoices are usually dealt with by our finance team contacting the supplier. It is escalated to management in both entities if not resolved at a lower level.

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