BARRATT DEVELOPMENTS P L C
Company number: 00604574
1 July 2022
to 31 December 2022
This report was filed on 30 January 2023
and approved by Mike Scott
Average time taken to pay invoices: 20 days
- within 30 days: 80%
- in 31 to 60 days: 19%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 26 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
In respect of any contracts for goods and/or services where Barratt Developments PLC ‘PLC’ is the contracting entity it will pay for such goods/services on the last working day of the month following the month in which the goods and services are delivered provided always that it has been correctly invoiced by the Supplier and has received the invoice by the last working day of the month in which the goods/services were delivered.
If PLC 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 it has been correctly invoiced.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?