BRITISH ARAB COMMERCIAL BANK PUBLIC LIMITED COMPANY
Company number: 01047302
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 10 January 2019
and approved by Mrs Celeste Du Plessis
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 5%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 17 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
30 days
Standard payment terms
BACB's preferred payment terms are 30 days and no less than 14 days. We strive to ensure our payments are made in a timely fashion and within terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Any invoices in dispute are requested to the Spend Owner to contact their Account Manager to raise the dispute, requesting more information or a credit note for the service. Invoices are entered onto the AP system but are not authorised until disputes are resolved and the Spend Owner is happy to approve payment. AP requests updates on a regular basis.
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.No
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