GOV.UK
BIFFA WASTE SERVICES LIMITED
Company number: 00946107
Reporting period:
1 October 2020
to 31 March 2021
This report was filed on 29 April 2021
and approved by R Pike
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 48%
- in 61 days or more: 29%
Invoices due but not paid within agreed terms: 23 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Our business standard payment terms are between 30 and 60 Days. All vendors are paid on a weekly payment run, apart for Major Reciprocal suppliers, where payment terms are aligned and payments are made at the end of the calendar month. All payment runs include invoices that are cleared with a due date of the following Friday. This policy was changed in March 2021, all suppliers were notified of this positive change to payment cycles. This change is applicable to all existing and new suppliers alike. Other standard contract terms include the suppliers of goods and services must comply with all relevant legislation and international standards in relation to: trading policy, child and forced labour, health and safety of workers, non-discrimination, employment law, human rights and bribery and corruption. In particular, suppliers must be able to demonstrate compliance with both the letter and spirit of the Modern Slavery Act 2015.
Biffa Group Ltd reserves the right to discontinue business with suppliers who do not comply with our requirements in this area. Any change in terms such as this are communicated to suppliers both by hard copy and email to the nominated supplier contact. Prior consultation was not appropriate in this case as the change was a regulatory requirement.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
Our dispute resolution process has been consistent for a number of years. Suppliers will contact Accounts Payable and the originator of the order in the first instance to highlight any issues. If the delay is related to a problem in the normal approval process then this will be managed and resolved by the Accounts Payable department. If the issues are related to payment terms or credit account limits then this is escalated to and managed by the appropriate Group Procurement Category Manager who will discuss the matter directly with the supplier and agree a mutually acceptable solution to the problem. Solutions may include extending our credit line, reducing payment terms or increasing order frequency. Issues are resolved promptly.
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