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AIRWAVE SOLUTIONS LIMITED

Company number: 03985643

Reporting period:
1 January 2018 to 30 June 2018

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

This report was filed on 25 July 2018

and approved by Ian Waddell

Payment statistics

Average time taken to pay invoices: 16 days

Invoices paid:

• within 30 days: 89%
• in 31 to 60 days: 9%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 58 %

Payment terms

Standard payment period for qualifying contracts

40 days

Standard payment terms

Standard payment terms are net 40 days after receipt of an accurate invoice for standard trade suppliers. Payment terms are 14 days for SME suppliers. Payments under our lease contracts (principally for rent, rates and power costs), which make up approximately half of our supplier base, demand immediate payment terms.

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

No

Maximum contractual payment period agreed

40 days

Any other information about payment terms

N/A

Dispute resolution process

Each case is treated individually. The Accounts Payable team will review the purchase order and/or contract and attempt to resolve any issues with the supplier. If there is a dispute regarding the delivery of goods or services, the purchaser will communicate with the supplier and seek to reach an agreement. In the unlikely event that an agreement cannot be reached, external mediation would be sought, in accordance with standard terms.

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.

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