BEN-MOTOR AND ALLIED TRADES BENEVOLENT FUND
Company number: 02163894
Reporting period:
1 April 2018 to 30 September 2018
Report filed on:
29 October 2018
Approved by:
David Ellis
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 12%
- 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: 16%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Ben’s terms of payment are 30 days from receipt into the Finance department of a correctly addressed invoice containing all required information.
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
b) Business Process for resolving disputes In the event of any dispute, the Ben employee 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 Financial Controller for resolution 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.
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.
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