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TRW LIMITED

Company number: 00872948

Reporting period:
1 July 2019 to 31 December 2019


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

This report was filed on 29 January 2020

and approved by Daniel Shattock

Payment statistics

Average time taken to pay invoices: 59 days

Invoices paid:

  • within 30 days: 13%
  • in 31 to 60 days: 42%
  • in 61 days or more: 45%

Invoices due but not paid within agreed terms: 44%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

120 days

Standard payment terms

60 days

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

120 days

On 31 December 2018, the assets, liabilities and going concern of TRW Systems Limited were transferred entirely to TRW Limited, and all operations continued within that legal entity. Following that date, no external payments to suppliers were made by TRW Systems Limited.

Any other information about payment terms

On 31 December 2018, the assets, liabilities and going concern of TRW Systems Limited were transferred entirely to TRW Limited, and all operations continued within that legal entity. Following that date, no external payments to suppliers were made by TRW Systems Limited.

Dispute resolution process

Disputes and complaints about payments are managed by our Accounts Payable team, processes are being harmonized between all our group companies.

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, 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.

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