GAMA AVIATION (ENGINEERING) LIMITED
Company number: 07842470
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
17 August 2023
Approved by:
Michael Williamson
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 56%
- in 31 to 60 days: 33%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 68%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Gama Aviation Engineering Ltd normally settles trade payables on 30 day terms and these invoices are paid in the bi-monthly payment run following their due date, however variations to these terms do exist based on agreements with certain 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
Gama Aviation (Engineering) Limited is committed to paying our suppliers in an honest, prompt and professional manner while seeking best value for the business. We endeavour to resolve any invoice queries as quickly as possible, communication between the Accounts Payable team, the business area responsible for the purchase and the relevant supplier is instigated to resolve the matter. Upon resolution payment is made or a credit note processed.
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.
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