BIFFA WASTE SERVICES LIMITED
Company number: 00946107
Reporting period:
30 March 2018 to 30 September 2018
Report filed on:
29 October 2018
Approved by:
R Pike
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 17%
- in 31 to 60 days: 59%
- in 61 days or more: 24%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 35%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
90 days
Standard payment terms
Our business standard payment terms are between 30 and 60 Days. All vendors are paid on twice period payment runs which are made on weeks 1 & 3 of the period. Suppliers on a weekly cycle are paid weeks 2 , 4 , & 5 of the period. All payment runs include invoices that are cleared with a due date of the previous Friday. This has been the policy since May 2008 and is applicable to all existing and new suppliers alike. Other standard contract terms include the suppliers of goods and services must comply with all relevant legislation and international standards in relation to: trading policy, child and forced labour, health and safety of workers, non-discrimination, employment law, human rights and bribery and corruption. In particular suppliers must be able to demonstrate compliance with both the letter and spirit of the Modern Slavery Act 2015. Biffa Group Ltd reserves the right to discontinue business with suppliers who do not comply with our requirements in this area. Any change in terms such as this are communicated to suppliers both by hard copy and email to the nominated supplier contact. Prior consultation was not appropriate in this case as the change was a regulatory requirement.
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
90 days
No changes to our standard payment terms were made during the reporting period
Any other information about payment terms
No changes to our standard payment terms were made during the reporting period
Dispute resolution process
Our dispute resolution process has been consistent for a number of years. Suppliers will contact Accounts Payable and the originator of the order in the first instance to highlight any issues. If the delay is related to a problem in the normal approval process then this will be managed and resolved by the Accounts Payable department. If the issues are related to payment terms or credit account limits then this is escalated to and managed by the appropriate Group Procurement Category Manager who will discuss the matter directly with the supplier and agree a mutually acceptable solution to the problem. Solutions may include extending our credit line, reducing payment terms or increasing order frequency. Issues are resolved promptly.
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.
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