AVL UNITED KINGDOM LIMITED

Company number: 01067795

Reporting period:
1 July 2019 to 31 December 2019

This information is as reported by the business, and responses are in their own words.

This report was filed on 3 March 2020

and approved by Dr Antonio Ciriello

Payment statistics

Average time taken to pay invoices: 29 days

Invoices paid:

within 30 days: 41%
in 31 to 60 days: 39%
in 61 days or more: 20%

Invoices due but not paid within agreed terms: 48%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

90 days

Standard payment terms

30 Days End of MOnth

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

We have a documented internal workflow. Disputes are pushed to the requisitioner to resolve. We use SAP and expect purchase orders in the majority of qualifying contracts. Once resolved PO's will be amended and booked in which will release invoices for payment. We aim to resolve disputes as soon as possible. Certainly before any due date to agreed invoicing terms is reached.

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, this business has not signed up to a code of conduct or standards on payment practices.

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?