GOV.UK
LONDON CITY AIRPORT LIMITED
Company number: 01963361
Reporting period:
1 July 2022
to 31 December 2022
This report was filed on 18 January 2023
and approved by Wilma Allan
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 13%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
Our payment terms is 30 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
If the goods/services have not been received or if there is an issue with the goods/services our Accounts Payable Team will not release the payment until the issue is resolved with the supplier. The resolution is normally conducted by the Requestor and the Supplier via a telephone call with the supplier. The Requestor will then request credit note or agree to pay the invoice and receipt the Purchase Order. Then our Accounts Payable Team will arrange the payment.
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