AVIAGEN LIMITED
Company number: 01610943
Reporting period:
1 July 2017 to
31 December 2017
This report was filed on 3 May 2018
and approved by STEPHEN MCPHILLIPS
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 7%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 39%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Where not otherwise agreed, the company aims to pay suppliers by the end of the month following the delivery of goods or services. A large proportion of the company’s suppliers have agreed different payment terms, most commonly 30 days after receipt of invoice. The company makes bulk weekly payment runs, so invoices are typically paid on the payment run that is closest to the technical due date on a supplier’s invoice.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
If payable by month end of month following receipt of invoice, an invoice received early in one month will be payable by end of the following month. Therefore 60 days.
Any other information about payment terms
N/A
Dispute resolution process
A rare occurrence that would be resolved through mutual discussion with suppliers.
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, 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.
Yes
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