AIRWAVE SOLUTIONS LIMITED
Company number: 03985643
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
25 July 2018
Approved by:
Ian Waddell
Payment statistics
Average time taken to pay invoices: 16 days
Invoices paid:
- within 30 days: 89%
- in 31 to 60 days: 9%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 58%
Payment terms
Shortest standard payment periods
40 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are net 40 days after receipt of an accurate invoice for standard trade suppliers. Payment terms are 14 days for SME suppliers. Payments under our lease contracts (principally for rent, rates and power costs), which make up approximately half of our supplier base, demand immediate payment terms.
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
40 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Each case is treated individually. The Accounts Payable team will review the purchase order and/or contract and attempt to resolve any issues with the supplier. If there is a dispute regarding the delivery of goods or services, the purchaser will communicate with the supplier and seek to reach an agreement. In the unlikely event that an agreement cannot be reached, external mediation would be sought, in accordance with standard terms.
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.
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