GOV.UK
BRITISH HEART FOUNDATION
Company number: 00699547
Reporting period:
1 October 2020
to 31 March 2021
This report was filed on 30 April 2021
and approved by Mark Thomas Fitzpatrick
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 10%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 18 %
Payment terms
Shortest standard payment period
18 days
Longest standard payment period
30 days
Standard payment terms
The BHF's standard supplier terms and conditions require the BHF to pay undisputed invoices within 30 days of the invoice date. Suppliers should only invoice the BHF when the goods or services procured have been delivered to the BHF.
The BHF offers favourable payment terms for our logistics fleet service providers with invoices paid within 18 days of the invoice date.
The BHF’s standard terms and conditions do not permit suppliers to use supply chain financing to factor invoices without the BHF’s written permission. Many of our suppliers do factor their invoices with our express written agreement.
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
When the BHF receives products or services from a supplier which are not at the required standard the BHFs key contact with the supplier will advise the supplier within 5 working days and will work with the supplier to agree any possible resolution to the dispute. The key contact is normally the BHF employee who delivered the approved purchase order to the supplier.
When a supplier invoice is received that does not include a valid purchase order number, or where the BHF has not recorded the receipt of the goods, or where there are issues with the invoice format or VAT charges, our accounts payable team will contact the supplier within 5 working days of the receipt of the invoice to clarify and/or resolve.
The BHF’s accounts payable team can be contacted at APqueries@bhf.org.uk.
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