BASF PUBLIC LIMITED COMPANY

Company number: 00667980

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 8 July 2024

and approved by Timothy Holstein

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

• within 30 days: 35%
• in 31 to 60 days: 62%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 0%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

BASF plc's standard supplier terms are to pay supplier invoices within 60 days of the invoice date, assuming that the goods or services have been delivered in accordance with the purchase order. However, payment terms may be negotiated depending on the commercial situation on a case by case basis. BASF plc makes daily payment runs.

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

381 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

BASF plc's procurement activities include nearly everything that’s needed for the BASF products: raw materials, technical goods and services, as well as logistic solutions. We collaborate with competitive suppliers who add value for BASF and our customers. KPI's to respond to queries within 3 days. BASF plc provides access to its Vendor interactive portal to track orders and view remittance information.

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.

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