AON CONSULTING LIMITED
Company number: 03127195
1 January 2019
to 30 June 2019
This report was filed on 28 November 2019
and approved by Pelagia Katsaouni-Dodd
Average time taken to pay invoices: 39 days
- within 30 days: 30%
- in 31 to 60 days: 63%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 50 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Standard payment term is 45 days from invoice date. This period reflects the normal course of dealing, unless the Company enters into formal written terms for supplies from group companies.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Effective 1st January 2019, Aon’s Enterprise Financial Management platform migrated, and this move led to weekly payment runs. This led to many suppliers being paid a few days after the due date and resulted in an increase in the number of suppliers who were paid late, however, the average payment term reduced materially.
Dispute resolution process
Helpdesks and contact details as well as process information available on http://www.aon.com/about-aon/supplier-information.jsp
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?