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SAFRAN NACELLES LIMITED

Company number: 02344610

Reporting period:
1 January 2022 to 30 June 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 27 July 2022

and approved by Nicola Grosstephan

Payment statistics

Average time taken to pay invoices: 51 days

Invoices paid:

• within 30 days: 19%
• in 31 to 60 days: 56%
• in 61 days or more: 25%

Invoices due but not paid within agreed terms: 22 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

45 days

Standard payment terms

45 days from date of invoice

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

No

Maximum contractual payment period agreed

45 days

N/A

Any other information about payment terms

An ongoing exercise continues which results in old invoices being processed from suppliers. These are paid immediately, but impact the average time to pay invoices measure.

Dispute resolution process

In general, our accounts system won’t let us process anything that doesn’t have a matching PO, Goods Receipt, and invoice. Where these documents don't match, the Purchasing Team are notified who will contact the supplier to discuss the difference and agree a resolution.

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