| 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 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 53 | 30% | 36% | 34% | 62% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 58 | 16% | 40% | 43% | 78% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our most frequently used standard term is 30 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
120
ur Accounts Payable team can dispute or reject invoices when they are deemed to not be compliant. Reasons for disputes are subject to, but not conclusive of, incorrect VAT information, incorrect billing information, or if quantities are different to what has been received or approved at the PO stage. If an invoice goes into query then accounts payable will relay this to the applicable buyer to resolve with the supplier. There is a running query list that Accounts Payable review and publish internally to ensure that invoices are resolved accordingly. If an invoice is overdue for payment, then the supplier will be expected to reach to our accounts payable division, at accountspayableuk@abaco.com. This can be escalated to the Global Accounts Payable Manager. The accounts payable team, and all payment runs, are dealt with by the US parent company, Abaco Systems Inc.
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
ABACO SYSTEMS LIMITED is a UK-registered company forming part of the Abaco Systems group, a manufacturer of rugged embedded computing hardware for defence and other demanding industries. The wider group designs single board computers, network communications equipment, digital signal processing systems, graphics and video hardware, avionics interfaces and related software, built to open architecture standards such as SOSA and VPX. Its products are used in military and commercial air, land, sea and space programmes, supplied to prime contractors and systems integrators. The group is headquartered in Huntsville, Alabama, with this entity registered at an address in Leicester, United Kingdom. The company's SIC classification covers manufacture of computers and peripheral equipment.
Generated from the company's website and Companies House records. Sources: abaco.com · abaco.com