SAFRAN NACELLES LIMITED
Company number: 02344610
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
27 July 2022
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%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 22%
Payment terms
Shortest standard payment periods
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
Were suppliers notified or consulted about these changes before they were made?
N/A
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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