| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 72 | 9% | 44% | 47% | 92% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The standard payment period is 60 days end of month. https://www.meggitt.com/global-terms-and-conditions/
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
Meggitt aims to resolve most questions within 3 weeks. Any question that has not been resolved to the satisfaction of the supplier and Meggitt within 3 weeks of being raised may be escalated to the Head of Procurement for resolution by emailing accountsquery@meggitt.com.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
MEGGITT PLC is an active private limited company, incorporated on 11 April 1947, based in the West Midlands region. Registered business activity: Activities of head offices.
From Companies House records.