AVIS BUDGET SERVICES LIMITED

Company number: 01972749

Reporting period:
1 January 2022 to 30 June 2022

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This report was filed on 28 July 2022

and approved by Paul Ford

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

• within 30 days: 47%
• in 31 to 60 days: 33%
• in 61 days or more: 20%

Invoices due but not paid within agreed terms: 46%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Invoices payable to companies within the ABG Group are paid based on date received + the agreed payment term of 30/45/60 days via a net settlement process offsetting any receivable amounts due from those companies. Other suppliers are paid 60 days from invoice date (provided a valid VAT invoice is submitted quoting a PO/ reference number)

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

If necessary, subsequent escalation can be made by contacting the Procurement Manager or appropriate stakeholder – the Procurement Manager can then escalate within the team at the shared service centre and ask for specific actions to be taken whilst then communicating with the supplier. Validation is sought from invoice approvers in terms of disputed invoices. Set off may be allowed if a settlement has to be made subject to payment terms and contractual agreement position.

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, 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.

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