RHEINMETALL BAE SYSTEMS LAND LIMITED

Company number: 00414948

Reporting period:
1 July 2023 to 31 December 2023

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This report was filed on 30 January 2024

and approved by Steve Harding

Payment statistics

Average time taken to pay invoices: 34 days

Invoices paid:

• within 30 days: 51%
• in 31 to 60 days: 44%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 26%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Our standard conditions of purchase provides for net 30 day payment for small enterprises, and at the end of the month following the month in which an invoice is received for medium and large enterprises, subject to (i) a valid invoice being properly provided by the supplier and (ii) the relevant Supplies being delivered with supporting compliance documentation and accepted by us, in accordance with the contract. The full text of the standard payment terms are available on our website www.RBSL.com.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

The date of receipt of the supplier's invoice has been used for the calculation of the reported statistics. The receipt date is when it was recognised onto the system. Where an invoice has been settled through the matching of a credit note, this invoice is not included in the payment statistics. If there is a partial match of a credit note against an invoice, the payment of the remainder of the invoice is included in the payment statistics. During the second half of 2023 our business has experienced a significant increase in volume in parallel to an IT transition programme, which has caused a short term impact on processes. Improvements have already been implemented and will be reflected positively in 2024.

Dispute resolution process

As per our standard conditions of purchase, if a payment dispute arises, then the parties are required to follow a disputed invoicing process and use reasonable endeavours to resolve the dispute amicably. Any disputes that cannot be resolved are subject to arbitration. Our full dispute resolution process can be found on our website www.RBSL.com.

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, this business has signed up to: The 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