GOV.UK
ASTON MARTIN LAGONDA LIMITED
Company number: 01199255
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 18 January 2024
and approved by Douglas Lafferty
Payment statistics
Average time taken to pay invoices: 58 days
Invoices paid:
- within 30 days: 14%
- in 31 to 60 days: 61%
- in 61 days or more: 25%
Invoices due but not paid within agreed terms: 26 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
120 days
Standard payment terms
60 days end of month i.e payment at the end of the month, two months after the invoice is dated
Were there any changes to the standard payment terms in the reporting period?
Yes – 30 days end of the month to 60 days end of the month
Were suppliers notified or consulted about these changes before they were made?
Yes – All new suppliers are enrolled on the new standard payment terms and during the course of the period, all direct suppliers were notified of new terms and conditions including these standard terms.
Maximum contractual payment period agreed
120 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
The standard contractual terms provide for the following process:- As an initial stage, 1 party may notify the other party in writing of a dispute, and each party will then appoint representatives who will meet and attempt to resolve the dispute within 60 days. If this informal procedure does not succeed, the parties then have the option of appointing a mediator to conduct a non-binding mediation or, if the dispute still remains unresolved, both parties may agree to participate in a binding arbitration in the United Kingdom under the rules of the London Court of International Arbitration.
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.
Yes
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