ASPIRE DEFENCE SERVICES LIMITED

Company number: 04556471

Reporting period:
1 July 2020 to 31 December 2020

---

This report was filed on 8 January 2021

and approved by Nigel Marsh

Payment statistics

Average time taken to pay invoices: 17 days

Invoices paid:

• within 30 days: 89%
• in 31 to 60 days: 7%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 3%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

45 days

Standard payment terms

Most of the ADSL supply chain payment terms are 30 days from date of invoice with a handful having 45 days and some having immediate payment or 14 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

45 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

All invoices when received from the supplier are registered onto our system. Any queries/issues are then raised internally and if they can't be resolved referred back to the supplier (example: credit note required or the work has not been completed). Once the query has been resolved the invoice is then released for payment via BACS.

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.

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