BACHY SOLETANCHE LIMITED
Company number: 00752082
1 July 2020
to 31 December 2020
This report was filed on 27 January 2021
and approved by Graham Trafford
Average time taken to pay invoices: 61 days
- within 30 days: 20%
- in 31 to 60 days: 51%
- in 61 days or more: 29%
Invoices due but not paid within agreed terms: 29 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Our standard payment terms are 60 days from month end of date of invoice.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
The average time taken to pay invoices has been significantly increased in the reporting period by the settlement of an outstanding commercial issue. The issue was around the alleged supply of defective product to our worksite by a large Company. The issue has been under discussion over a number of years and was settled amicably in the period which resulted in a supplier credit and the settlement of the old invoices.
Dispute resolution process
Payment queries will be be managed through the Company's accounts payable department. The vast majority of queries will relate to missing paperwork / authorisation issues and can be dealt with quickly. More complicated disputes will be escalated to the relevant manager within the business who will deal with the issues directly with the supplier with a view to quick resolution.
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.
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?