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AIR PRODUCTS (BR) LIMITED

Company number: 02532156

Reporting period:
1 October 2021 to 31 March 2022

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

This report was filed on 26 April 2022

and approved by Hussa,Benjamin M.

Payment statistics

Average time taken to pay invoices: 37 days

Invoices paid:

• within 30 days: 68%
• in 31 to 60 days: 24%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 22 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Air Products standard payment terms globally are Net 45 days date of invoice (d.o.i), unless this cannot be legally applied in the country.
Air Products’ policy is to pay suppliers according to the terms on the Purchase Order (PO) provided the invoice is error free and goods receipt is verified.
The Air Products recommended Payment Terms for business conducted in Europe are:
Standard - Net 45 days – where permissible by law or suppliers
Non-standard – determined on a supplier by supplier basis depending on business/supplier requirement

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

No

Maximum contractual payment period agreed

92 days

Any other information about payment terms

N/A

Dispute resolution process

All invoices are reviewed by accounts payable specialist.
In cases where it is clear that invoices are erroneous, they will be returned externally to the vendor/supplier for immediate correction and re-issue.
For discrepancies, invoices are held by an accounts payable specialist and referred for further investigation with the relevant procurement/business department .
In both instances, the accounts payable specialist/manager will follow up with regular communications internally and externally to investigate the progress in resolving the discrepancies with a view to having the invoice recorded and paid in the shortest time possible.

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