AERIAL DIRECT LIMITED
Company number: 08043921
Reporting period:
1 October 2023 to 31 March 2024
Report filed on:
24 April 2024
Approved by:
David Ainslie
Payment statistics
Average time taken to pay invoices: 50 days
Invoices paid:
- within 30 days: 35%
- in 31 to 60 days: 18%
- in 61 days or more: 47%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms are end of month following date of invoice, depending on the contract or Purchase Order T&Cs, however specific terms are negotiated depending on the commercial situation
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
We adhere to our suppliers' payment terms, maintaining strong and equitable relationships. With our two large corporate suppliers, we have negotiated 90-day terms, aligning with the scale of our partnerships. These terms are exceptions, as the majority of our suppliers adhere to our standard payment terms. Our maximum contractual payment period reflects fair and negotiated terms, ensuring mutually beneficial agreements with all suppliers.
Any other information about payment terms
No further comment provided
Dispute resolution process
We value clear and effective communication. In the rare event of a dispute regarding payments, our accounts payable team is dedicated to prompt resolution. We have established efficient channels for suppliers to raise concerns and queries, ensuring timely and fair resolutions. Our commitment to transparency and collaboration extends to our approach to resolving any payment-related disputes, fostering trust and strong partnerships with our 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