SAFRAN SEATS GB LIMITED
Company number: 00278391
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
29 July 2022
Approved by:
Victoria Foy
Payment statistics
Average time taken to pay invoices: 100 days
Invoices paid:
- within 30 days: 9%
- in 31 to 60 days: 36%
- in 61 days or more: 55%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 24%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
60 days month end
Were there any changes to the standard payment terms in the reporting period?
13 new suppliers set up in the reporting period with terms less than standard payment terms. These accounts have been set up with terms of 30 days net, 45 days net, 60 days date of invoice or monthly direct debit.
Were suppliers notified or consulted about these changes before they were made?
The changes were for new suppliers based on their requirements as they couldn’t accept our standard payment terms. Once the reduction in payment terms was agreed within our organisation, Shared Services purchasing team notified the new supplier that we would accept the shorter payment terms.
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
Reference Invoices due but not paid within agreed terms, 13.5% were paid within 5 days of agreed terms (due to timing of payment runs v due date). Our average days to pay increased from H2 2021 due to the resolution of over 400 invoices relating to one of the group companies for the period 2018-2020. With this removed, our average days reduces to c.70 days.
Dispute resolution process
At Safran Seats GB Ltd, we strive to resolve queries and disputes on a timely basis. In respect of suppliers, goods received are inspected and receipted on site with any issues arising communicated to the supplier via telephone and e-mail. In the rare event that a dispute cannot be resolved by quality and commercial staff, the matter will be referred to our in-house legal team. The figures above have not been amended to remove invoices which are under query or in dispute.
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