WESTERN ASSET MANAGEMENT COMPANY LIMITED
Company number: 02479672
Reporting period:
1 April 2023 to 30 September 2023
Report filed on:
11 October 2023
Approved by:
Michael Zelouf
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 9%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 12%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The majority of qualifying contracts for the relevant period were agreed with a 30 day payment term.
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
60 days
The 60 day maximum contractual period relates to a single supplier.
Any other information about payment terms
No further comment provided
Dispute resolution process
All accounts payable related queries or disputes should be sent to WAAccountsPayable@westernasset.com. Western Asset Management Company Limited (the Company) has standard payment terms of 30 days and we aim to resolve queries or disputes within a reasonable time scale. Please refer to the Company's Section 172 stakeholder engagement statement within our financial statements for further information on our relationship with 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.
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