BARRATT DEVELOPMENTS P L C
Company number: 00604574
1 July 2020
to 31 December 2020
This report was filed on 27 January 2021
and approved by J White
Average time taken to pay invoices: 24 days
- within 30 days: 64%
- in 31 to 60 days: 34%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 18 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Barratt Developments Plc will pay for goods and services most frequently on the last working day of the month following the month in which the goods and services are delivered provided always that the Purchaser has been correctly invoiced by the Supplier and has received the invoice by the last working day of the month in which the Goods were delivered.
If Barratt Developments Plc has not been correctly invoiced by this date, payment shall be made on the last working day of the month following the month in which the Purchaser has been correctly invoiced.
Other payment terms have been agreed for bespoke contracts.
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
If a dispute arises between the parties, the parties will attempt, in good faith, to reach settlement as soon as possible between the Barratt Contact and the Supplier Contact (who shall be authorised to settle such a dispute).
This dispute resolution procedure will be followed prior to commencing any legal proceedings.
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?