ASPIRE DEFENCE LIMITED
Company number: 05572542
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
6 July 2020
Approved by:
Angus McColl
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 3%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 8%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Overheads - pay as per terms on individual suppliers invoice. This is normally 14 - 30 days. Subcontract invoices - these are paid in line with contract specifications.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers are asked to contact finance department either via email or phone. Queries are looked at within 24 hours and reasons are provided to the supplier. If applicable a timeframe for authorisation and payment is provided or otherwise further information / credit note is requested from the supplier in writing (via email).
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