BIDCONNECTER LIMITED
Company number: 09358176
Reporting period:
1 July 2022 to 30 June 2023
Report filed on:
9 October 2023
Approved by:
Martin Weaver
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 100%
- in 31 to 60 days: 0%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are 7 to 14 days for consultancy services, 21 days for construction services and 30 days for equipment and materials supplies
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the event of a dispute relating to the invoice, initially the person who raised the Purchase Order or the relevant Contract Manager will contact the supplier/contractor providing details of the dispute and seeking resolution of any issues. Disputes may be escalated internally within BidConnecter Limited depending on the circumstances of the dispute.
Where it is not possible to reach an agreement several potential dispute resolution method may be employed for example mediation, adjudication, expert determination, litigation and/or arbitration. Suppliers/contractors may contact the Payments Team on invoices@bidconnecter.com if they have any query relating to payment of the invoice.
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: Department for Business & Trade 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