NATS (SERVICES) LIMITED
Company number: 04129270
Reporting period:
1 October 2021 to 31 March 2022
Report filed on:
29 April 2022
Approved by:
Alistair Borthwick
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 13%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 14%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Subject to the proper performance of the contract, invoices which are correct in all material respects, properly addressed and bearing the Purchase Order number shall be paid by NATS within 30 days of receipt or as otherwise agreed in writing.
Were there any changes to the standard payment terms in the reporting period?
No
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
In order to be processed, invoices must quote a valid purchase order number and must be addressed to: NATS Ltd Citypoint 65 Haymarket Terrace Edinburgh EH12 5HD Invoices must either be submitted electronically as an e-invoice on the Ariba platform (for Purchase Orders issued via Ariba) or provided in PDF form by email to plservices@nats.co.uk. NATS no longer regularly monitors receipt of paper invoices which are delivered by post. Invoices which are not correctly addressed with a valid purchase order and sent to NATS in the manner described above may not be settled within agreed terms.
Dispute resolution process
We will inform suppliers promptly when invoices are contested. Any complaints from suppliers regarding non-payment will be dealt with in an effective and timely manner.
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 Fair 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