GOV.UK
BDW TRADING LIMITED
Company number: 03018173
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 27 July 2023
and approved by John Clarkin
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 22%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 21 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Non-construction Contract Purchase Order (principally for purchase of goods, but with some provision for supply of related services)
Payment of the invoice from the Supplier shall be made within 30 days of the end of the month of receipt unless otherwise provided within the Order unless the invoice is disputed and Payment or Pay Less Notices are served and/or it is referred to Adjudication.
Construction Contracts
Works Order & The Large Package Agreement (design and Non Design Versions)
The Contractor shall be entitled to interim payments during the course of the Works either on a monthly or bi-monthly basis as set out in the Order. In the event that the basis is not set out in the Order the interim payments shall be on a monthly basis.
The Payment Due Date is 24 days from the ”Application Date” being the 19th day of the month for all interim payment requests received prior to this date for monthly billing (and the 6th and 19th of the month for bi-monthly billing).
The Payment Due Date is only replaced with a subsequent Final Due Date (14 days after the Payment Due Date) if the application/invoice is challenged under the “payment notice” or “pay less notice” provisions contained in the agreement.
Construction Contracts (Labour only)
The Contractor shall be entitled to interim payments during the course of the Works either on a monthly bimonthly or weekly basis as set out in the Order. In the event that the basis is not set out in the Order the interim payments shall be on a monthly basis.
Payment of any amount ascertained in accordance with the Contract under an Interim Application (if any) to the Contractor shall become due:
• in the case of interim payments to be made monthly or bimonthly 24 days after the Application Date (“Payment Due Date”); or
• in the case of interim payments to be made weekly 7 days after the Application Date (“Payment Due Date”).
The final date for payment of an amount stated as due in a notice, shall be in the case of interim payments to be made monthly or bimonthly 14 days after the Payment Due Date; or in the case of interim payments to be made weekly 7 days after the Payment Due Date.
These are subject to the “pay less” provisions in the contract, in the event of a dispute.
Consultants Appointments
BDW’s Standard Appointment and Project Orders issued from BDW’s Framework Appointment
The Consultant shall submit Interim Applications for payment to the Employer by each Application Date defined as 3 Business Days after the end of the calendar month to which the Interim Application relates. Payment of any amount ascertained shall become due 21 days after the Application Date, known as the “Payment Due Date”. Within 5 days following the Payment Due Date BDW will send a notice to the Consultant specifying the amount (if any) considered due to the Consultant at the Payment Due Date and the basis on which the amount is calculated. Hence for applications for payment/invoices received which are not contested payment is to be made to the Consultant within an overall 30 day period.
For contested applications for payment/invoices BDW has the right to serve a Payment Notice and/or a Pay Less Notice thus extending the period for payment to a Final Date for Payment in accordance with the provisions of the Appointment.
Link to payment terms on website
Payment Terms for Construction Contracts are published on the Barratt Commercial website
http://www.barrattcommercialsupport.co.uk/bdw-policy-documents
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Non-construction contracts
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).
Construction contracts
Dispute resolution clauses are agreed at the tender and pre-contract stage. Thereafter, if there is a contractual dispute, the dispute resolution procedures laid out in the contract are invoked. Any dispute or difference arising under or in connection with the Contract may be referred to adjudication in accordance with the Scheme for Construction Contracts SI 1998 No 649.
Hyperlink to the Conditions of Contract:
http://www.barrattcommercialsupport.co.uk/bdw-policy-documents
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.
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