HEATHROW AIRPORT LIMITED
Company number: 01991017
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by Javier Echave
Average time taken to pay invoices: 21 days
- within 30 days: 94%
- in 31 to 60 days: 4%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 6 %
Standard payment period for qualifying contracts
Standard payment terms
Company policy is to pay suppliers within the agreed credit terms of 30 days from the date of the invoice. We will only accept an invoice for processing once it fulfills the criteria required as stated within our contractual terms and conditions.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Heathrow has three suppliers on 60 days payment terms due to legacy contracts that we are in the process of moving to 30 days within the next month.
Any other information about payment terms
Dispute resolution process
Any payment disputes are settled between the Requisitioner (owner and requestor of the purchase order), the accounts payable team and, if necessary, the relevant procurement manager.
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 – The Prompt Payment Code and the Construction Supply Chain Payment Charter
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?