BETA This is a new service – your feedback will help us to improve it.

LONDON CITY AIRPORT LIMITED

Company number: 01963361

Reporting period:
1 July 2020 to 31 December 2020

---

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

This report was filed on 10 February 2021

and approved by Wilma Allan

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

• within 30 days: 60%
• in 31 to 60 days: 23%
• in 61 days or more: 17%

Invoices due but not paid within agreed terms: 48 %

Payment terms

Shortest standard payment period

14 days

Longest standard payment period

45 days

Standard payment terms

Standard contractual terms is 45 days

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

N/A

Dispute resolution process

The main point of contact for disputes is the accounts payable supervisor. When an invoice is disputed for example the PO is different to the amount on the invoice, the accounts payable supervisor will contact the relevant department who raised the PO/ approved the invoice to query the difference. It is up to the relevant department to contact the supplier if the invoice is incorrect or different to what is expected. LCY follow a strictly no PO no pay policy. The PO number is communicated by the relevant department at the time of placing the order.

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.

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