BABCOCK CORPORATE SERVICES LIMITED
Company number: 04415588
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
29 October 2018
Approved by:
Ian Connell
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 47%
- in 31 to 60 days: 30%
- in 61 days or more: 23%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 52%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
For majority of suppliers standard payment terms are 30 days. For certain larger suppliers individual terms of up to 60 days may be agreed subject to individual negotiation.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disputes are handled by the Company's Accounts Payable function. The Accounts Payable function will contact suppliers with any disputed items as soon as possible after invoice receipt in order to resolve as soon as possible. Any complaints received will initially be dealt with by the company's Accounts Payable function and will be referred to senior management if they cannot be resolved satisfactorily.
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: Prompt Payment Code (BEIS) as part of Babcock International Group
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