BARRATT DEVELOPMENTS P L C

Company number: 00604574

Reporting period:
1 July 2023 to 31 December 2023

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This report was filed on 29 January 2024

and approved by M Scott

Payment statistics

Average time taken to pay invoices: 26 days

Invoices paid:

• within 30 days: 77%
• in 31 to 60 days: 22%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 11%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

60 days

Standard payment terms

In respect of any contracts for goods and/or services where Barratt Developments PLC (‘PLC’) is the contracting entity it will pay for such goods/services on the last working day of the month following the month in which the goods and services are delivered provided always that it has been correctly invoiced by the Supplier and has received the invoice by the last working day of the month in which the goods/services were delivered. If PLC has not been correctly invoiced by this date, payment shall be made on the last working day of the month following the month in which it has been correctly invoiced.

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

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

For both PLC and BDW 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). This dispute resolution procedure will be followed prior to commencing any legal proceedings.

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, this business has signed up to: 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