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ASTON MARTIN LAGONDA LIMITED

Company number: 01199255

Reporting period:
1 January 2020 to 30 June 2020

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

This report was filed on 29 July 2020

and approved by Ken Gregor

Payment statistics

Average time taken to pay invoices: 81 days

Invoices paid:

• within 30 days: 6%
• in 31 to 60 days: 40%
• in 61 days or more: 54%

Invoices due but not paid within agreed terms: 76 %

Payment terms

Shortest standard payment period

1 days

Longest standard payment period

90 days

Standard payment terms

30 Days End of Month i.e. payment at the end of the month after the month in which the invoice is dated

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

No

Maximum contractual payment period agreed

120 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

The standard contractual terms provide for the following process:- As an initial stage, 1 party may notify the other party in writing of a dispute, and each party will then appoint representatives who will meet and attempt to resolve the dispute within 60 days. If this informal procedure does not succeed, the parties then have the option of appointing a mediator to conduct a non-binding mediation or, if the dispute still remains unresolved, both parties may agree to participate in a binding arbitration in the United Kingdom under the rules of the London Court of International Arbitration.

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