GOV.UK
BDW TRADING LIMITED
Company number: 03018173
Reporting period:
1 July 2017
to 31 December 2017
This report was filed on 30 January 2018
and approved by Jessica White
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 37%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 30 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Purchase order payment terms:
BDW Trading Ltd will pay for goods on the last working day of the month following the month in which the goods are delivered provided always that the Purchaser has been correctly invoiced by the Supplier and has received the invoice by the last working day of the month in which the Goods were delivered.
If BDW Trading Ltd has not been correctly invoiced by this date, payment shall be made on the last working day of the month following the month in which the Purchaser has been correctly invoiced.
Labour only subcontract order payment terms:
The Contractor shall be entitled to interim payments during the course of the Works either on a monthly bimonthly or weekly basis as set out in the Order. In the event that the basis is not set out in the Order the interim payments shall be on a monthly basis.
Payment of any amount ascertained in accordance with the Contract under an Interim Application (if any) to the Contractor shall become due:
• in the case of interim payments to be made monthly or bimonthly 24 days after the Application Date (“Payment Due Date”); or
• in the case of interim payments to be made weekly 7 days after the Application Date (“Payment Due Date”).
Subcontract order payment terms:
The Contractor shall be entitled to interim payments during the course of the Works either on a monthly or bimonthly basis as set out in the Order. In the event that the basis is not set out in the Order the interim payments shall be on a monthly basis.
Payment of any amount ascertained in accordance with the Contract under an Interim Application (if any) to the Contractor shall become due 24 days after the Application Date ("Payment Due Date").
The final date for payment of an amount stated as due in a notice, shall be 14 days after the Payment Due Date.
Terms and conditions are set out in the following PDF’s:
Purchase Order Conditions of Contract
Labour Only Conditions of Contract
Works Order Conditions of Contract
These can be found on the following web page:
http://www.barrattcommercialsupport.co.uk/terms-and-conditions
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
E-invoicing is being piloted across the Group.
Dispute resolution process
If a dispute arises between the parties, the parties will attempt, in good faith, to reach settlement as soon as possible between the Barratt Contact and the Supplier Contact (who shall be authorised to settle such a dispute).
This dispute resolution procedure will be followed prior to commencing any legal proceedings.
The Supplier agrees that it is only permitted to contact Barratt Contacts.
Hyperlink to the purchase order conditions of contract:
http://www.barrattcommercialsupport.co.uk/uploads/purchase-order-conditions---rev-i-010711.pdf
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.Yes – Prompt Payment Code
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