BDO LLP
Company number: OC305127
Reporting period:
4 July 2020 to 1 January 2021
Report filed on:
29 January 2021
Approved by:
Stuart Collins
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 40%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 63%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
45 days
Standard payment terms
BDO Network Firms terms of 45 days is the most commonly used terms for the reporting period. Other individual contracts may vary. Where the standard terms of business of 30 days apply, T&C’s can be found at www.bdo.co.uk
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
45 days
BDO Network Firms terms of 45 days is the most commonly used terms for the reporting period. Other individual contracts may vary. Where the standard terms of business of 30 days apply, T&C’s can be found at www.bdo.co.uk Our statistics include payments made to BDO Member Firms as well as payments made to unconnected 3rd parties. A more accurate representation of the relationship with 3rd party suppliers is given if the data on BDO Member Firms is excluded. Excluding payments made to BDO Member Firms: Average time taken to pay invoices: 28 days Invoices paid: - within 30 days: 79% - in 31 to 60 days: 14% - in 61 days or more: 7% Invoices due but not paid within agreed terms: 51%
Any other information about payment terms
N/A
Dispute resolution process
Disputes relating to supplier invoices should be communicated to P2P@bdo.co.uk
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