Company number: 01470151
and approved by Bradley Greve
Average time taken to pay invoices: 32 days
Invoices paid:
Invoices due but not paid within agreed terms: 2%
1 days
61 days
Our 2022 Standard Conditions of Purchase provide for payment at the end of the month following the month in which an invoice is received, subject to (i) a valid invoice being properly provided by the supplier and (ii) the relevant Supplies being delivered and accepted by us, in accordance with the contract. The full text of the standard payment term can be located in Clause 9 of the 2022 Standard Conditions of Purchase at: https://www.baesystems.com/en-uk/what-we-do/suppliers/united-kingdom Whilst the company does contract certain of its material business on the basis of programme-specific bespoke terms and conditions, the relevant payment terms are largely consistent with those contained within the Standard Conditions of Purchase.
Answer not provided
N/A
61 days
No further comment provided
It is not precisely known when payments actually credit into a supplier’s bank account (we do not have systems that accurately record this event). Therefore for the production of the disclosed statistics, we have made a reasoned estimation of when payments have cleared into a supplier's bank account. 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.
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 in Clauses 9 and 36 of the 2022 Standard Conditions of Purchase at: https://www.baesystems.com/en-uk/what-we-do/suppliers/united-kingdom
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 company is a signatory to the UK Prompt Payment Code
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No