ASPIRE DEFENCE SERVICES LIMITED

Company number: 04556471

Reporting period:
1 January 2024 to 30 June 2024

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

This report was filed on 9 July 2024

and approved by vernon crabb

Payment statistics

Average time taken to pay invoices: 19 days

Invoices paid:

within 30 days: 95%
in 31 to 60 days: 4%
in 61 days or more: 1%

Invoices due but not paid within agreed terms: 0%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

30 days

Standard payment terms

Aspire standard payment terms are 30 days, there are a few suppliers who are on immediate payment

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

N/A

Dispute resolution process

Aspire will always try to resolve any disputes at the local level. It will have conversations to listen and come to an agreement with the supplier. the next level would be to bring in the Aspire commercial/legal team. Again, resolution will be sort, in some form or another. After that, if no resolution is found then, legal counsel is sort.

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: 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.

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.

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?