GOV.UK
ATLAS COPCO IAS UK LIMITED
Company number: 01873269
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 16 January 2020
and approved by Yanping Ma
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 37%
- in 31 to 60 days: 42%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms: 19 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Standard terms are a range of between 30 and 60 day
Were there any changes to the standard payment terms in the reporting period?
Yes – Some of our significant suppliers agreed to 60 Day terms
Were suppliers notified or consulted about these changes before they were made?
Yes – Yes we contacted the suppliers and only those that agreed in writing have been altered.
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
If any disagreement arises out of the invoices and their payment, the matter shall be disposed of as follows: the Supplier shall send an email to invoices.gci@atlascopco.com with evidence that it met the invoicing requirements and with an explanation of its claim regarding any unpaid invoice. Accounts Payable Department should respond within 3 working days.
If this dispute is not resolved, the Supplier should contact the Purchasing Manager who shall respond to the Supplier within 10 working days of receipt of the Supplier’s email and the parties will use their reasonable endeavours to resolve the matter promptly.
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