BASF PUBLIC LIMITED COMPANY
Company number: 00667980
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
10 August 2018
Approved by:
Thomas Urwin
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 44%
- in 31 to 60 days: 53%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
BASF plc's standard supplier terms are to pay supplier invoices within 60 days of the invoice date, assuming that the goods or services have been delivered in accordance with the purchase order. However, payment terms may be negotiated depending on the commercial situation on a case by case basis. BASF plc makes daily payment runs. Full details of BASF plc’s standard terms & conditions can be found at: https://www.basf.com/documents/corp/en/about-us/suppliers-and-partners/download-center/BASFGroupUK_GeneralConditionsofPurchase_EN_20131030.pdf
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
373 days
Maximum contractual payment terms is for payment to another group company for inter-company invoices.
Any other information about payment terms
No further comment provided
Dispute resolution process
BASF plc's procurement activities include nearly everything that’s needed for the BASF products: raw materials, technical goods and services, as well as logistic solutions. We collaborate with competitive suppliers who add value for BASF and our customers. KPI's to respond to queries within 3 days. BASF plc provides access to its Vendor interactive portal to track orders and view remittance information.
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: Promt 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.
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