From the data provided, it is clear that there has been a significant improvement in the time taken for BANHAM PATENT LOCKS HOLDINGS LIMITED to pay invoices to suppliers. The average time to pay has decreased from 30 days in the first period to just 5 days in the second period. However, in the third period, there has been a slight increase to 37 days. The data for the fourth and fifth periods are not available.
There has been a high level of volatility in the time taken for BANHAM PATENT LOCKS HOLDINGS LIMITED to pay invoices to suppliers. In the first period, the average time to pay was 30 days, but in the second period, it drastically decreased to just 5 days. However, in the third period, there was a significant increase to 37 days. This shows that there is no consistency in the company's payment practices.
| 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 Jan 2020 - 30 Jun 2020 | 29 Sept 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 23 Jan 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 37 | 20% | 75% | 5% | 80% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 5 | 93% | 6% | 1% | 58% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 30 | 58% | 38% | 4% | 33% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
60 days end of each month
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
90
Suppliers are encourage to contact the Accounts Payable Team to discuss any queries. If further discussion is required the Procurement Department and Authorising Manager will be responsible for resolution. Should resolution not be reached, legal mediation may be required.
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
BANHAM PATENT LOCKS HOLDINGS LIMITED is a British company that specializes in security and locking systems. They have been in business since 1926 and have a strong reputation for providing high-quality products and services.
The company's main focus is on providing secure locking solutions for residential and commercial properties. They offer a range of products including locks, keys, safes, and security systems. Their products are designed to meet the highest standards of security and durability.
BANHAM is committed to sustainability and has implemented a sustainability program that focuses on reducing their environmental impact. They strive to use sustainable materials in their products and reduce waste in their manufacturing processes.
The company is led by key people such as the Chairman, Charles Hallatt, and the Managing Director, Daniel Thompson. They have a team of experts who are dedicated to providing excellent customer service and ensuring the highest level of security for their clients.
Customers can contact BANHAM through their website, where they can also find more information about their products and services. The company's registered office address is 20 Thornsett Road, London, SW18 4EF, United Kingdom.
In summary, BANHAM PATENT LOCKS HOLDINGS LIMITED is a reputable British company that offers high-quality security and locking solutions. They have a strong focus on sustainability and are led by a team of experienced professionals. Their commitment to excellence and customer satisfaction sets them apart in the industry.