BIDCONNECTER LIMITED
Company number: 09358176
Reporting period:
1 July 2020 to 30 June 2021
Report filed on:
6 November 2021
Approved by:
Martin Weaver
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 100%
- in 31 to 60 days: 0%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
Our standard terms for payment to our supply chain is 14 days. Where supplying companies provide materials / services on 30 day terms we use these.
www.bidconnecter.com contains a link to our standard terms and conditions.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the event of a dispute relating to an invoice, initially the person who raised the Purchase Order or the relevant Contract Manager will ocntact the supplier/contractor providing details of the dispute and seeking to resolve any issues. Disputes may be escalated to BidConnecter Limited's senior management team for resolution.
If resolution is not achieved BidConnecter Limited will cooperate with or appoint reputable third-parties to resolve the issue.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: 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