SHORT BROTHERS PLC
Company number: NI001062
Reporting period:
1 July 2020 to
31 December 2020
This report was filed on 26 January 2021
and approved by Colin Thompson
Payment statistics
Average time taken to pay invoices: 67 days
Invoices paid:
- within 30 days: 29%
- in 31 to 60 days: 21%
- in 61 days or more: 50%
Invoices due but not paid within agreed terms: 85%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
60 days
Standard payment terms
Payments are made on the next available payment run. That is, at the end of the week they fall due.
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
120 days
No further comment provided
Any other information about payment terms
Short Brothers plc was until 29 October 2020 part of the Bombardier group and since then is part of the Spirit group. Both of these groups are large, global organisations with a complex supply chain. Like many companies in the aerospace industry the business has been impacted by the ongoing COVID-19 crisis, which has unfortunately made it more difficult to process our supplier payments in a timely manner. We regret any impact this may have on our suppliers in these exceptional circumstances, and we are working daily with our supply chain through this situation. Our aim is to maintain rewarding partnerships with all our suppliers and we are committed to improving our payment performance
Dispute resolution process
Accounts payable will refer the invoice to the relevant purchasing department for investigation and resolution directly with the supplier, if appropriate, or accounts payable department will resolve directly with supplier's accounts receivable department
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.
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