CARDIFF INTERNATIONAL AIRPORT LIMITED
Company number: 02076096
Reporting period:
1 October 2019 to 31 March 2020
Report filed on:
29 April 2020
Approved by:
Huw Lewis
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 54%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 99%
Payment terms
Shortest standard payment periods
32 days
Longest standard payment period
62 days
Standard payment terms
Invoice due dates are set for 30 days from date of invoice, unless contractual terms indicate otherwise. Payments are made to suppliers on a monthly basis via BACS. The due date acts as a trigger for invoices to be included in payment runs. The due date is compared with the date of the monthly payment run and if the standard 30 day period has elapsed then the invoice is included for payment. Thus allowing for the 3 day BACS processing cycle, the standard payment terms for qualifying contracts are between 32 and 62 days from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
62 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers’ complaints or concerns about payments should be addressed to the Finance Department of Cardiff International Airport Limited, at Cardiff Airport, Vale of Glamorgan, CF62 3BD.
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 Fair 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.
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