GOV.UK
BALFOUR BEATTY GROUP LIMITED
Company number: 00101073
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 27 July 2018
and approved by Philip Harrison
Payment statistics
Average time taken to pay invoices: 54 days
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 50%
- in 61 days or more: 23%
Invoices due but not paid within agreed terms: 54 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
63 days
Standard payment terms
Balfour Beatty Group Limited does not have standard payment terms, they range from immediate to 63 days. Payment terms are agreed with suppliers as part of contract negotiations. The most frequently used payment terms in the reporting period were 30 days.
Payment runs are typically on a weekly basis by BACS.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Paid 60 days after month-end following receipt of invoice
Any other information about payment terms
The statistical information provided includes payments to both purchase ledger and sub-contract suppliers with the received date of supplier invoices being the date a valid e-invoice was received via our e-invoice portal.
Dispute resolution process
Balfour Beatty Group Limited is committed to fair dealing with all of its supply chain members and transparency and swift resolution of disputed items are key principles in this process:
• Disputed invoices will be identified by internal business stakeholders initially and these will be raised directly with the relevant supplier.
• Suppliers are also able to query invoices with our Central Accounts Payable team in which case they are passed to the relevant business stakeholders for resolution.
• If a resolution cannot be reached between business stakeholder and the supplier, as a point of escalation the disputed invoices should then be raised with the local Procurement contact by the business stakeholder, containing details of the invoice in question and the nature of the dispute.
• Disputes will be assessed internally between the stakeholder and the local Procurement contact to judge accuracy and value
• If the disputed invoice is deemed appropriate, the Procurement contact will liaise with the account management (or other appropriate contact) within the supplier organisation to review and resolve.
• If a resolution cannot be reached between the Procurement contact and the supplier organisation, appropriate escalations within the respective organisations will be made.
• Where it is not possible to reach agreement, a number of potential dispute resolution methods ( for example, mediation, adjudication, expert determination, litigation and /or arbitration) may be used
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 – Balfour Beatty is a signatory of the 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.
Yes
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.
Yes
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