GE AIRCRAFT ENGINE SERVICES LIMITED
Company number: 02605713
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 31 January 2020
and approved by Antonio Provini
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 14%
- in 61 days or more: 33%
Invoices due but not paid within agreed terms: 50 %
Payment terms
Shortest standard payment period
90 days
Longest standard payment period
120 days
Standard payment terms
Any domestic payment terms >90 days are with large suppliers agreed under separate contract terms. 120 day payment terms apply to international suppliers.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
120 days
Any domestic payment terms >90 days are with large suppliers agreed under separate contract terms. 120 day payment terms apply to international suppliers.
Any other information about payment terms
N/A
Dispute resolution process
Accounts Payable escalate any disputes to the sourcing team who engage with the supplier to establish the agreed term.
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