BRITISH ARAB COMMERCIAL BANK PUBLIC LIMITED COMPANY

Company number: 01047302

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 27 July 2018

and approved by Mrs Susie Aliker

Payment statistics

Average time taken to pay invoices: 14 days

Invoices paid:

• within 30 days: 97%
• in 31 to 60 days: 2%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 24%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

30 days

Standard payment terms

BACB's preferred payment terms are 30 days and no less than 14 days. We strive to ensure our payments are made in a timely fashion and within terms

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

30 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

For any invoices that are in dispute, the Spend Owner would contact their Account Manager/ other contact to raise the dispute, requesting more information or a credit note. Invoices are entered onto the AP system on receipt but will not be authorised until disputes are resolved and the Spend Owner is happy to approve payment. AP request updates on a regular basis.

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