BALCAS TIMBER LIMITED
Company number: NI026014
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
27 January 2025
Approved by:
Mike Glennon
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 23%
- in 31 to 60 days: 46%
- in 61 days or more: 31%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 31%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
75 days
Standard payment terms
Payment in full for invoices to be made in the month following month of invoice (average 45 days). Balcas will at worst strive for payment in full for invoices to be made in the second month following month of invoice (average 75 days).
The extension out to 75 days is largely driven by payment to suppliers outside of the United Kingdom, in an attempt to match terms to suppliers with the timing of receipts from customers in the same region.
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If a query simply relates to an enquiry about payment this will be dealt with by the accounts department.
If there is a dispute or complaint, the query is directed to the appropriate person.
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