Babcock recognises the benefits of paying our suppliers in a timely manner. Our approach includes:
- agreeing the terms of payment upfront
- paying undisputed bills by their due date
- regular reporting on payment performance
- building good relationships with our customers – providing contact details and explaining how our payment systems work
- agreeing an approach for resolving payment disputes
Babcock complies with the Reporting on Payment Practices and Performance Regulations and our business units, where appropriate, are members of the Prompt Payment Code.
Action plans for meeting the 95% target for payment within 60 days are developed by relevant business units. See below: