BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY
Company number: 01800000
Reporting period:
1 October 2021 to
31 March 2022
This report was filed on 28 April 2022
and approved by Simon Lowth
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 19%
- in 31 to 60 days: 76%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 5%
Payment terms
Shortest standard payment periods
42 days
Longest standard payment period
57 days
Standard payment terms
British Telecommunications plc standard payment terms for contracted suppliers are 30 days for smaller suppliers and 57 days for larger suppliers from receipt of a valid invoice. Some suppliers have mutually agreed non standard longer terms (maximum 120 days) and others have agreed shorter non standard terms (e.g. Government contracts on 30 days).
Were there any changes to the standard payment terms in the reporting period?
Standard payments terms have been changed from 60 to 57 days.
Were suppliers notified or consulted about these changes before they were made?
The Company communicated through various communications channels including email.
Maximum contractual payment period agreed
120 days
A small number of suppliers in specialist industry categories e.g. devices, have mutually agreed to longer non standard payment terms than our standard payment terms (57 days). BT operates weekly, fortnightly, monthly payment run frequencies
Any other information about payment terms
N/A
Dispute resolution process
British Telecommunications plc have standard dispute resolution process across all suppliers payments. First point of contact is Accounts Payable, through contact points on website see link.https://groupextranet.bt.com/selling2bt/accounts_payable.html (Link to BT Payment Practices)
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, 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.
Yes
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.
Yes
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