GOV.UK
VISTEON ENGINEERING SERVICES LIMITED
Company number: 06213888
Reporting period:
1 July 2018
to 31 December 2018
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 24 January 2019
and approved by Robert Swanston
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 17%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 13 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
Standard terms are 60 days from date of receipt of a valid invoice
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
n/a
Any other information about payment terms
n/a
Dispute resolution process
In the first instance suppliers who have a query regarding an invoice should speak with their Visteon buyer who can liaise with the Accounts Payable team. Alternatively, suppliers can contact the Accounts Payable team directly at electpt@visteon.com
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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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