Company number: 00207732
and approved by Catherine Brannigan
Average time taken to pay invoices: 45 days
Invoices paid:
Invoices due but not paid within agreed terms: 29%
0 days
90 days
Armstrong’s standard payment terms are end of month following the month of invoice, which ranges from 30 to 60 days depending on the date of the supplier invoice. This is applicable mainly for its raw material suppliers. All other supplier terms are negotiated at the time of order and Armstrong will normally agree to pay the supplier on their terms. There are a number of suppliers whose terms are payable upon receipt of invoice which is impossible to meet so will always be reported as paid outside of terms.
Answer not provided
N/A
90 days
No further comment provided
Armstrong is not able to record date of receipt of invoice within its systems so it has been assumed that the invoice date is the day the invoice has been received as the majority of invoices are received by e-mail. This may slightly distort some of the statistics above if an old / disputed invoice is paid a long time after the actual invoice date.
All payment queries/disputes should be sent to tmvaccounts@armstrongceilings.com in the first instance. If necessary the Accounts Payable team will refer to other business areas within Armstrong (for example Purchasing, Stores, Distribution centre, etc.) to resolve the enquiry. If the matter remains unresolved it may be escalated to more senior management.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No