BRITISH AMERICAN SHARED SERVICES (GSD) LIMITED
Company number: 05203401
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
30 July 2024
Approved by:
Yetunde Ibe
Payment statistics
Average time taken to pay invoices: 56 days
Invoices paid:
- within 30 days: 18%
- in 31 to 60 days: 56%
- in 61 days or more: 26%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 14%
Payment terms
Shortest standard payment periods
5 days
Longest standard payment period
270 days
Standard payment terms
BAT's standard payment terms vary depending on the nature of the transaction as well as the contractual agreement with our 3rd party relationships. Our most common term is net 60 days from invoice date. In our signed contracts with suppliers, we also have a fortnightly payment run clause which implies that in the event a payment due date falls after the fortnightly payment run date, the duefor payment invoice will be paid on the following payment run.
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
285 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Whilst we do not have a stand alone dispute resolution policy, we have standard provisions in our IDT templates that set out the dispute resolution process which governs how parties are to resolve a dispute. • Any Dispute between the Parties in relation to disputed invoice amounts shall be subject to the Dispute Resolution Procedure (for our complex agreements the dispute resolution procedure is subject to different timelines). • To note Dispute is defined as “any dispute, disagreement or claim arising out of or in connection with this agreement, its subject matter or formation (including non-contractual disputes and claims)
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.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
Yes
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