BRITISH ARAB COMMERCIAL BANK PUBLIC LIMITED COMPANY
Company number: 01047302
Reporting period:
1 January 2021
to 30 June 2021
This report was filed on 6 July 2021
and approved by Mrs Celeste Du Plessis
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 91%
- in 31 to 60 days: 9%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 12 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
30 days
Standard payment terms
BACB's preferred payment terms are 30 days and no less than 14 days. We strive to ensure all payments are made within a timely manner and within terms
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Our suppliers' payment terms range between 0 days and 30 days, including 7, 14, 15, 21 and 28 days, sometimes making it difficult to pay within those terms.
Any other information about payment terms
N/A
Dispute resolution process
For any invoices in dispute, the spend owner or Accounts Payable department will contact the suppliers' Credit Control department or Account Manager requesting clarification of costs or a credit note. Invoices are entered onto the system but not approved until the dispute is resolved.
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