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BABCOCK CORPORATE SERVICES LIMITED

Company number: 04415588

Reporting period:
1 April 2018 to 30 September 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 29 October 2018

and 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%

Invoices due but not paid within agreed terms: 52 %

Payment terms

Shortest standard payment period

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

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

Yes – 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