GOV.UK
BAE SYSTEMS (OMAN) LIMITED
Company number: 03135337
Reporting period:
1 July 2021
to 31 December 2021
This report was filed on 27 January 2022
and approved by Simon Wood
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 62%
- in 31 to 60 days: 35%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 13 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
61 days
Standard payment terms
Our 2018 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. Whilst the company does contract certain of its material business on the basis of programme-specific bespoke terms and conditions, the relevant payment terms are largely consistent with those contained within the Standard Conditions of Purchase.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
61 days
Any other information about payment terms
Where the date than an invoice has been received cannot be reliably established (primarily due to IT limitations), the supplier’s invoice date is used as day “0” for the purposes of the calculation of the reported payment 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 – The company 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