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BAE SYSTEMS (OMAN) LIMITED

Company number: 03135337

Reporting period:
1 July 2020 to 31 December 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 28 January 2021

and approved by Simon Wood

Payment statistics

Average time taken to pay invoices: 56 days

Invoices paid:

• within 30 days: 73%
• in 31 to 60 days: 27%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 27 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

Our standard conditions of purchase, provide for payment at the end of the month following the month in which an invoice is received, subject to (i) a valid invoice being properly provided by the supplier and (ii) the relevant Supplies being delivered and accepted by us, in accordance with the contract. The full text of the standard payment term can be located in Clause 15 of the 2018 Standard Conditions of Purchase at:
https://www.baesystems.com/en-uk/what-we-do/suppliers/united-kingdom

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

Where the date that an invoice has been received cannot be reliably established (primarily due to IT system limitations), the suppliers’ invoice date is the best alternative measurement for calculation of the reported statistics.

It is not precisely known when payments actually credit into a supplier’s bank account (we do not have systems that accurately record this event). Therefore for the production of the disclosed statistics, we have made a reasoned estimation of when payments have cleared into a supplier's bank account.

Where an invoice has been settled through the matching of a credit note, this invoice is not included in the payment statistics. If there is a partial match of a credit note against an invoice, the payment of the remainder of the invoice is included in the payment statistics.

Dispute resolution process

As per our standard conditions of purchase, if a payment dispute arises, then the parties are required to follow a disputed invoicing process and use reasonable endeavours to resolve the dispute amicably. Any disputes that cannot be resolved are subject to arbitration. Our full dispute resolution process can be found in Clauses 15 and 36 of the 2018 Standard Conditions of Purchase at: https://www.baesystems.com/en-uk/what-we-do/suppliers/united-kingdom

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.

Yes – BAE Systems is a signatory to the UK Prompt Payment Code

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.

Yes

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