BABCOCK AIRPORTS LIMITED
Company number: 03954520
Reporting period:
1 April 2018
to 30 September 2018
This report was filed on 30 October 2018
and approved by Steve West
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 39%
- in 61 days or more: 23%
Invoices due but not paid within agreed terms: 52 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
30 days is our shortest standard terms but over 52% of suppliers are on 60 day terms.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Suppliers would contact the person that placed the order in the first instance to resolve any disputes. Suppliers have the facility to engage with the Accounts Payable team in the first instance who will investigate the dispute and advise accordingly. If the issue is not resolved satisfactorily, the supplier may opt to engage with the Procurement function (in particular if the issue affects the on-going relationship with the supplier) who will seek to address the matter as part of Supplier Relationship Management actions.
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.Yes – Prompt Payment Code (BEIS)
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