Ranked in 2 industries
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The trend for the average time taken for BRADFORD & BINGLEY LIMITED to pay invoices to suppliers has fluctuated over the past three periods. In the first period (Apr 2018-Sep 2018), the average time was 37 days, which decreased to 15 days in the second period (Oct 2018-Mar 2019), and then increased to 24 days in the third period (Apr 2019-Sep 2019). However, in the most recent period (Oct 2021-Mar 2022), the average time has increased to 53 days.
There is a high degree of volatility in the percentage of invoices paid within 30 days for BRADFORD & BINGLEY LIMITED. In the first period, 84% of invoices were paid within 30 days, which decreased to 78% in the last period. The percentage of invoices paid between 31 and 60 days has also varied, with the highest being 14% in the last period. Additionally, there has been a significant increase in the percentage of invoices paid later than 60 days, from 2% in the second period to 8% in the last period.
In the first period (Apr 2018-Sep 2018), BRADFORD & BINGLEY LIMITED had an average time of 37 days to pay invoices, with 84% of invoices paid within 30 days. However, there was a decrease in the average time to pay in the second period (Oct 2018-Mar 2019), with only 2% of invoices paid between 31 and 60 days. The third period (Apr 2019-Sep 2019) saw an increase in the average time to pay, but 93% of invoices were still paid within 30 days. In the most recent period (Oct 2021-Mar 2022), there has been a significant increase in the average time to pay, with only 78% of invoices paid within 30 days and 14% of invoices paid between 31 and 60 days.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Oct 2021 - 31 Mar 2022 | 29 Apr 2022 | 53 | 78% | 14% | 8% | 23% |
| 01 Apr 2021 - 30 Sept 2021 | 28 Oct 2021 | 21 | 91% | 7% | 2% | 9% |
| 01 Oct 2020 - 31 Mar 2021 | 29 Apr 2021 | 29 | 84% | 9% | 7% | 17% |
| 01 Apr 2020 - 30 Sept 2020 | 29 Oct 2020 | 22 | 91% | 5% | 4% | 27% |
| 01 Oct 2019 - 31 Mar 2020 | 23 Apr 2020 | 16 | 98% | 1% | 1% | 6% |
| 01 Apr 2019 - 30 Sept 2019 | 11 Oct 2019 | 24 | 93% | 7% | 0% | 32% |
| 01 Oct 2018 - 31 Mar 2019 | 15 Apr 2019 | 15 | 95% | 2% | 3% | 33% |
| 01 Apr 2018 - 30 Sept 2018 | 25 Oct 2018 | 37 | 84% | 8% | 7% | 33% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Invoices which are valid and properly submitted in accordance with the agreed terms and conditions of contract are payable with 30 days following the date on which the invoice is received (unless the invoice is disputed). Where appropriate, contractual provisions are included to provide the supplier with a remedy for late payment of invoices (i.e. applying interest).
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Dispute resolution procedures are typically included in the contract and set out escalation procedures/default positions if disputes cannot be resolved between the contracting parties. A Potential Supplier Dispute Management process forms part of UKAR/s Procurement Policy. This process sets out how potential supplier disputes should be notified and addressed internally to ensure the right business functions are engaged.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Bradford & Bingley Limited was a mortgage lender that previously operated under the Bradford & Bingley and Mortgage Express brands, alongside NRAM Limited, as part of the UK Asset Resolution group of former lenders being wound down. All live customer accounts were sold and transferred to other lenders by the end of October 2023, after which the company ceased operating as a lender. It surrendered its regulatory permissions in July 2024 and is no longer regulated by the Financial Conduct Authority. On 10 December 2025 the company entered Members' Voluntary Liquidation, with Joint Liquidators appointed to handle its wind-down. Former customer queries are now directed to UK Asset Resolution or to the relevant new lender that took on the accounts.
Generated from the company's website and Companies House records. Sources: bbg.co.uk