BETA This is a new service – your feedback will help us to improve it.

LONDON SOUTHEND AIRPORT COMPANY LIMITED

Company number: 02881745

Reporting period:
1 March 2018 to 31 August 2018

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 28 September 2018

and approved by Ricky Jackson

Payment statistics

Average time taken to pay invoices: 64 days

Invoices paid:

• within 30 days: 10%
• in 31 to 60 days: 64%
• in 61 days or more: 26%

Invoices due but not paid within agreed terms: 67 %

Payment terms

Standard payment period for qualifying contracts

45 days

Standard payment terms

The standard payment terms are 45 days in the absence of agreed terms with a supplier.

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

No

Maximum contractual payment period agreed

45 days

Any other information about payment terms

N/A

Dispute resolution process

Queries should initially be sent either to the department managing the contract or to the
London Southend Airport accounts department (LSAaccounts@southendairport.com). Queries
will be reviewed with the aim of providing a prompt resolution. Any further disputes would be
escalated to senior management and/or the Legal team with a view to resolving the situation.

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