BOEING DEFENCE UK LIMITED
Company number: 01290439
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
26 July 2023
Approved by:
Laura Perry
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 76%
- in 31 to 60 days: 21%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
"Under Boeing UK’s General Provisions, where the necessary supporting information reasonably required by Boeing to substantiate invoices and to clarify charges are not provided, Boeing is entitled to withhold payment in respect of the part not substantiated or clarified until such information is provided by the supplier. Where Boeing has disputed a payment, the Boeing Authorized Procurement Representative under the contract will contact their counterpart at the supplier. Where the dispute is not resolved by the authorised representatives, the Boeing UK General Provisions allow for disputes to be escalated, as appropriate, up to Boeing’s Vice President for Supplier Management and the supplier’s equivalent for resolution. Once mutual resolution has been reached, Boeing ensures timely payment to suppliers "
Were there any changes to the standard payment terms in the reporting period?
No
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
No further comment provided
Dispute resolution process
"Under Boeing UK’s General Provisions, where the necessary supporting information reasonably required by Boeing to substantiate invoices and to clarify charges are not provided, Boeing is entitled to withhold payment in respect of the part not substantiated or clarified until such information is provided by the supplier. Where Boeing has disputed a payment, the Boeing Authorized Procurement Representative under the contract will contact their counterpart at the supplier. Where the dispute is not resolved by the authorised representatives, the Boeing UK General Provisions allow for disputes to be escalated, as appropriate, up to Boeing’s Vice President for Supplier Management and the supplier’s equivalent for resolution. Once mutual resolution has been reached, Boeing ensures timely payment to suppliers "
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.
Yes, this business has signed up to: Prompt Payment code
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