GOV.UK
ASTON MARTIN LAGONDA LIMITED
Company number: 01199255
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 11 July 2018
and approved by Mark Wilson
Payment statistics
Average time taken to pay invoices: 55 days
Invoices paid:
- within 30 days: 22%
- in 31 to 60 days: 58%
- in 61 days or more: 20%
Invoices due but not paid within agreed terms: 32 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Our standard terms are net monthly i.e. invoices are paid on the last day of the month following invoice date, giving a minimum of 30 days, a maximum of 60 days and an average period of 45 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
In the case of c. 10 - 20 suppliers the terms agreed are payment at the end of the second month following invoice.
Any other information about payment terms
N/A
Dispute resolution process
The standard contractual terms provide for the following process: As an initial stage, a party may notify the other party in writing of the dispute and each party will then appoint representatives who will meet and attempt to resolve the dispute within 60 days. If this informal procedure does not succeed the parties then have the option of appointing a mediator to conduct a non-binding mediation or, if the dispute remains unresolved, both parties may agree to participate in a binding arbitration in the United Kingdom and under the rules of the London Court of International Arbitration
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.
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