Score of 95.5/100 qualifies for PaymentCheck Certification
| 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 2022 - 30 Jun 2022 | 18 Jul 2022 | 18 | 98% | 1% | 1% | 12% |
| 01 Jul 2021 - 31 Dec 2021 | 25 Jan 2022 | 14 | 98% | 1% | 1% | 1% |
| 01 Jan 2021 - 30 Jun 2021 | 21 Jul 2021 | 19 | 81% | 17% | 2% | 18% |
| 01 Jul 2020 - 31 Dec 2020 | 19 Jan 2021 | 28 | 98% | 1% | 1% | 10% |
| 01 Jan 2020 - 30 Jun 2020 | 05 Aug 2020 | 18 | 75% | 22% | 4% | 12% |
| 01 Jul 2019 - 31 Dec 2019 | 14 Jan 2020 | 19 | 88% | 11% | 0% | 13% |
| 01 Jan 2019 - 30 Jun 2019 | 16 Jul 2019 | 27 | 72% | 27% | 1% | 11% |
| 01 Jul 2018 - 31 Dec 2018 | 15 Mar 2019 | 20 | 98% | 1% | 1% | 18% |
| 01 Jan 2018 - 30 Jun 2018 | 02 Aug 2018 | 27 | 69% | 30% | 1% | 16% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are 30 days, however, different payment terms may be negotiated with suppliers where applicable.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Standard payment terms are consistent and do not change during the reporting period.
Maximum contractual payment period agreed
60
The accounts payable team and authorising manager will work with the supplier to reach a resolution with any invoice dispute. The invoice will be held until the dispute is resolved and a debit note raised if required. We aim to resolve any disputes in a timely manner.
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
Aico Limited trades as Aico, describing itself as the European market leader in home life safety. It designs, develops and supplies smoke, heat and carbon monoxide alarms, environmental sensors and connected home technology, including its HomeLINK IoT platform acquired in 2020. Products are manufactured at a factory in Ireland and meet UK standards, with the company noting it operates as part of the wider Ei Company group. Its customers include electricians, engineers, social landlords and government bodies across the UK. The company, headquartered in Oswestry, Shropshire, also provides technical support, CPD-accredited and City & Guilds training for installers, and holds ISO and Cyber Essentials certifications relating to quality, environmental and security management.
Generated from the company's website and Companies House records. Sources: aico.co.uk · aico.co.uk