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ASTON MARTIN LAGONDA LIMITED

Company number: 01199255

Reporting period:
1 July 2018 to 31 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 21 January 2019

and approved by Mark Wilson

Payment statistics

Average time taken to pay invoices: 58 days

Invoices paid:

• within 30 days: 16%
• in 31 to 60 days: 57%
• in 61 days or more: 27%

Invoices due but not paid within agreed terms: 47 %

Payment terms

Shortest standard payment period

1 days

Longest standard payment period

90 days

Standard payment terms

Net monthly i.e. payment at the end of the month following the invoice date

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

The standard contractual terms provide for the following process: As an initial stage, a party may notify the other party in writing of the 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 remains unresolved, both parties may agree to participate in a binding arbitration in the United Kingdom and 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.

Yes

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