BARD LIMITED
Company number: 00939600
Reporting period:
1 October 2020
to 31 March 2021
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