GOV.UK
ALSTOM ENGINEERING AND SERVICES LIMITED
Company number: 02235994
Reporting period:
1 July 2022
to 31 December 2022
This report was filed on 31 January 2023
and approved by Stuart Macleod
Payment statistics
Average time taken to pay invoices: 106 days
Invoices paid:
- within 30 days: 8%
- in 31 to 60 days: 46%
- in 61 days or more: 46%
Invoices due but not paid within agreed terms: 38 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
210 days
Standard payment terms
Our general standard terms are 60 days from date of submission of satisfactory invoice. The longest standard payment terms of 210 are for 22 suppliers with negotiated payment terms to which Alstom pays interest for the extension.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
210 days
ALSTOM Engineering and Services Limited has 22 large volume suppliers with whom we have negotiated extended payment terms of 210 or in two cases 240 days to which ALSTOM Engineering and Services Limited pays interest on the extension period. ALSTOM Engineering and Services Limited uses a bank as a paying agent for the suppliers with this bank in turn providing these suppliers with an invoicing discounting facility allowing the supplier to get paid at their convenience. Without the extended payment terms for these suppliers the average number of days to make payment would be 68 days.
Any other information about payment terms
N/A
Dispute resolution process
The company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best vale for the business. Alstom seeks to satisfactorily resolve any queries as quickly as possible prior to the payment being made. In the event that a dispute cannot be resolved by our Accounts Payable team, it would be escalated in the first instance to the relevant Head of Department to seek a resolution. In the event that it is still not resolved, the dispute would be referred to the Centre for Effective Dispute Resolution (CEDR).
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.
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