WESTON AEROSPACE LIMITED
Company number: 04740406
Reporting period:
30 September 2017 to
30 March 2018
This report was filed on 11 September 2018
and approved by Pierre Rossignol
Payment statistics
Average time taken to pay invoices: 63 days
Invoices paid:
- within 30 days: 13%
- in 31 to 60 days: 42%
- in 61 days or more: 46%
Invoices due but not paid within agreed terms: 37%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
Majority of suppliers are on 30 days net. Around a third of suppliers are on 60 days net.
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
90 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Disputes are resolved by several departments, depending on the reason for the dispute. Procurement resolve pricing queries, Quality resolve issues relating to parts being rejected and Logistics resolve discrepancies in quantity receipted.
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.
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