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Company number: 04251409

Reporting period:
1 January 2020 to 30 June 2020

Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 30 July 2021

and approved by Rachel Patton

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

Invoices due but not paid within agreed terms: 25 %

Payment terms

Shortest standard payment period

14 days

Longest standard payment period

30 days

Standard payment terms

BritNed operates the electricity interconnector between Great Britain and the Netherlands. Invoices for Explicit auctions are processed by JAO. The payment term on the invoices for customers is 14 days. Manually set up invoices usually have a payment term of 30 days.

Were there any changes to the standard payment terms in the reporting period?


Maximum contractual payment period agreed

42 days

Any other information about payment terms


Dispute resolution process

If a Supplier invoice is not set up correctly as stated on the BDL Purchase Order, the invoice is returned to suppl with this email: "Dear Sir Madam, Thank you for sending us your invoice(s). Unfortunately we are not able to process. Please note that the missing/incorrect information is highlighted in red. We would like to inform you on the BritNed Accounts Payable process. as we are a paperless office we would like to request for your company to only (re)send your financial documents:  invoices and statements/inquiries directly by email to: To ensure a smooth procedure we would like to inform you on a few guidelines on how to dispatch your invoices. - Make sure your invoice always mentions your bank details.  If this is already the case for your company, we thank you in advance.     If this is not possible for your company then always send your invoice + the necessary bank details, on separate paper perhaps, combined in 1 pdf file. - Make sure you send 1 invoice in 1 pdf and not combine invoices. Because they are uploaded into a recognition system, they need to be separated. - Make sure invoice and additional files such as worksheet are combined in one pdf file. - More than 1 invoice per email by multiple pdf files is not an issue. - Make sure (the correct) BritNed Development Ltd Purchase Order number is mentioned on everyone of your invoices. - Make sure the correct invoice address is mentioned. When you send your email to always mention your company name + the type of document your are supplying in the subject. In case of an invoice please mention the invoice number as well. We would like to thank you in assisting BritNed in this process where possible."

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?