BRITISH ARAB COMMERCIAL BANK PUBLIC LIMITED COMPANY

Company number: 01047302

Reporting period:
1 January 2022 to 30 June 2022

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This report was filed on 26 July 2022

and approved by Louise Fitzgerald

Payment statistics

Average time taken to pay invoices: 23 days

Invoices paid:

• within 30 days: 93%
• in 31 to 60 days: 7%

Invoices due but not paid within agreed terms: 10%

Payment terms

Shortest standard payment periods

28 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 with in a timely manner and within terms.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

30 days

Vendors' 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

Invoices in dsipute will be entered onto the system but not approved until i) queries are resolved, ii) costs are agreed, iii) a credit note is received. The vendors' Credit Control team/ dedicated account manager are contacted by BACB's Finance team or spend owner to query or request clarification of costs before payment is made.

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, this business has not signed up to a code of conduct or standards on payment practices.

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