BERKELEY HOMES PUBLIC LIMITED COMPANY
Company number: 04088248
1 May 2018
to 31 October 2018
This report was filed on 19 November 2018
and approved by Richard Stearn
Average time taken to pay invoices: 28 days
- within 30 days: 72%
- in 31 to 60 days: 20%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 5 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Berkeley’s standard purchase order payment terms for suppliers requires payment to be made within 30 days from the receipt of a valid invoice. Berkeley’s standard construction contract payment terms for subcontractors is 42 days following the subcontractor’s valid application for payment.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Berkeley’s maximum contractual payment period is 42 days. This only applies to relevant subcontractor payments under construction contracts.
Any other information about payment terms
Dispute resolution process
Any dispute or difference between the parties are subject to the laws of England and Wales and the jurisdiction of the English courts. Payment under construction contracts is subject to statutory adjudication pursuant to the Housing Grant, Construction and Regeneration Act 1996. Only a very small proportion of our payments become the subject to the adjudication and/or court 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 – 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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?