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BARD LIMITED

Company number: 00939600

Reporting period:
1 October 2020 to 31 March 2021

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This information is as reported by the business, and responses are in their own words.

This report was filed on 28 April 2021

and approved by Glenn Thomas

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

• within 30 days: 40%
• in 31 to 60 days: 49%
• in 61 days or more: 11%

Invoices due but not paid within agreed terms: 81 %

Payment terms

Standard payment period for qualifying contracts

60 days

Standard payment terms

60 days from invoice receipt date

Were there any changes to the standard payment terms in the reporting period?

Yes – Standard payment terms changed from 30 days to 60 days

Were suppliers notified or consulted about these changes before they were made?

Yes – Most existing suppliers payment terms did not change, those that did were advised. New suppliers are advised 60 day payment terms.

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

All invoice queries and complaints are sent to a central accounts payable mailbox.

Emails are treated with priority listing based on the chronology of being received.
Best practice is to process regular emails in 24 hours since received, however more complex ones may take longer.

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

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