BEN-MOTOR AND ALLIED TRADES BENEVOLENT FUND
Company number: 02163894
Reporting period:
1 April 2024 to 30 September 2024
Report filed on:
14 October 2024
Approved by:
Jonathan Cox
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 8%
- in 61 days or more: 4%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
Ben's payment terms are normally 30 days from receipt by the Finance department of a correctly addressed invoice containing all the required information, quoting a Purchase Order number for which the goods and services have been confirmed as received.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the event of a dispute, the Ben colleague who ordered the goods/service would aim to resolve the matter by referring to the original order to identify variances to the specification or any other relevant matter etc. If the dispute remains unresolved it shall be referred to the Ben Head of Finance in the first instance.
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.
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