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AQUILA AIR TRAFFIC MANAGEMENT SERVICES LIMITED

Company number: 09256777

Reporting period:
1 April 2021 to 30 September 2021

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

This report was filed on 8 November 2021

and approved by Michael P Stoller

Payment statistics

Average time taken to pay invoices: 26 days

Invoices paid:

• within 30 days: 75%
• in 31 to 60 days: 22%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 32 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

30 days

Standard payment terms

All invoices shall be payable 30 days from the end of the month in which the invoice is received.

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

No

Maximum contractual payment period agreed

30 days

N/A

Any other information about payment terms

• The supplier shall submit invoices to the address stated on the order after delivery of the goods or the performance of the services.
• No payments shall be made until and unless the goods and/or services have been accepted.
• Payment may be delayed if the supplier fails to provide an invoice that includes the following information: purchase order number and the order item number; goods and/or services to which it relates; supplier’s VAT number; supplier’s bank account number, sort code and invoice address; invoice number; date of the invoice; the name and full address of Aquila; delivery address; price and the total amount due.
• Aquila reserves the right to reject an invoice that does not include the information set out above.
• Aquila shall be entitled to offset against the price any sums that are owed to Aquila by the supplier.
• In the event that Aquila does not make a payment against a correctly submitted invoice within the period stated the supplier reserves the right to charge interest on such late payment at a rate no greater than 1% per annum above the Bank of England’s base rate calculated on a daily basis commencing 14 days from the date on which payment was due provided that the supplier has given 14 days written notice to Aquila that such payment is overdue.

Dispute resolution process

Aquila will endeavour to advise suppliers promptly of any disputes or reasons as to why an invoice will not be paid within the agreed terms. Invoices that are subject to dispute will not be paid until the dispute has been resolved. Once resolved, payment will be made in accordance with the terms of the contract.

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.

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