BELLWAY HOMES LIMITED
Company number: 00670176
1 August 2020
to 31 January 2021
This report was filed on 26 February 2021
and approved by Keith Adey
Average time taken to pay invoices: 35 days
- within 30 days: 50%
- in 31 to 60 days: 45%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 23 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Subcontractors – subcontractors are required to make applications for payment within the applicable applications window. Subcontractors may make bi-monthly or monthly applications for payment as set out in the order. Where no frequency of applications is set out in the order, the subcontractor may only make monthly applications for payment. When the application for payment is received within the application window, payment will be made within 30 days of the date of receipt of the application.
Suppliers/consultants – Payment of each invoice is either:
At the end of the calendar month after the month during which the relevant and properly prepared and submitted invoice is received by Bellway; or
30 days from receipt by Bellway of a valid and properly submitted VAT 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
Dispute resolution process
When there are queries or if a dispute arises between the parties, Bellway will attempt to resolve them as soon as possible with the other party. If a dispute is not being resolved in a timely manner this will be escalated by Bellway to ensure a fair resolution is achieved.
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?