BNP PARIBAS COMMODITY FUTURES LIMITED
Company number: 02391477
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 27 July 2018
and approved by Chris Penney
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 12%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 17 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Invoices are payable within thirty (30) days of receipt of a valid invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
In case BNP Paribas Commodity Futures Limited disputes (in whole or part) an invoice then it must notify the Supplier of such dispute and pay any undisputed portion of the invoice. The amount and nature of the dispute shall then be referred to the contract managers of both parties within thirty days for resolution.
If it is not possible for the parties to resolve the dispute the matter may be submitted to the English Courts.
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.
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.
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