THOMPSON AERO SEATING LIMITED

Company number: NI032654

Reporting period:
1 July 2020 to 31 December 2020

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This report was filed on 16 March 2021

and approved by Neil Taggart

Payment statistics

Average time taken to pay invoices: 73 days

Invoices paid:

• within 30 days: 1%
• in 31 to 60 days: 27%
• in 61 days or more: 72%

Invoices due but not paid within agreed terms: 98%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

Under Thompson Aero Seating's standard payment terms we commit to pay suppliers within 45 days from the end of the month in which we receive a proper invoice, or within 45 days from the end of the month in which we receive the goods or services in question, if later

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

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Invoicing disputes are dealt with by our finance and supply chain teams. They work with authorised representatives of the supplier and endeavour to resolve all disputes in a fair & timely manner through discussion & agreement.

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