The average time taken by FAURECIA AUTOMOTIVE SEATING UK LIMITED to pay invoices has decreased from 55 days in Jun 2023 to 52 days in Dec 2023.
The percentage of invoices paid within 30 days has increased from 31% in Jun 2023 to 35% in Dec 2023. The percentage of invoices paid between 31 and 60 days has decreased from 41% in Jun 2023 to 39% in Dec 2023. The percentage of invoices paid later than 60 days has also decreased from 28% in Jun 2023 to 26% in Dec 2023.
In the past three periods, FAURECIA AUTOMOTIVE SEATING UK LIMITED has shown a slight improvement in their payment time, with the average time decreasing from 55 days to 52 days. The percentage of invoices paid within 30 days has increased by 4%, while the percentage of invoices paid between 31 and 60 days has decreased by 2%. The highest percentage of invoices paid later than 60 days was in Jun 2023, at 28%.
| 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 2025 - 31 Dec 2025 | 30 Jan 2026 | 44 | 61% | 25% | 14% | 0% |
| 01 Jan 2025 - 30 Jun 2025 | 03 Oct 2025 | 44 | 40% | 37% | 23% | 23% |
| 01 Jul 2024 - 31 Dec 2024 | 07 Feb 2025 | 52 | 38% | 39% | 23% | 0% |
| 01 Jan 2024 - 30 Jun 2024 | 07 Feb 2025 | 63 | 12% | 51% | 37% | 0% |
| 01 Jun 2023 - 31 Dec 2023 | 31 Jan 2024 | 55 | 31% | 41% | 28% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payments to suppliers are often mandated by our final customer due to the business that we operate in. They also vary widely depending on the service provided by the supplier and if there are any specific terms agreed with suppliers.
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
90
Faurecia Automotive Seating UK Ltd is part of the wider Faurecia Group (which, along with Hella, forms the FORVIA Group) and is fully committed to paying all supplier invoices within the agreed payment terms period. It is essential for suppliers to provide correct PO's and to follow the Groups' invoicing rules to ensure there are no delays to payment of invoices.
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
FAURECIA AUTOMOTIVE SEATING UK LIMITED is a leading automotive seating manufacturer in the UK. The company is committed to sustainability and has various initiatives in place to reduce its environmental impact.
One of their key sustainability programs is the "Green Factory" initiative which focuses on reducing energy and water consumption, as well as waste production in their manufacturing processes. They also have a "Zero Waste to Landfill" policy in place, ensuring that all waste is either recycled or repurposed.
The company offers a variety of seating products and services for the automotive industry, including complete seat systems, frames, foam, and covers. They also provide design and engineering services to their clients.
The key people at FAURECIA AUTOMOTIVE SEATING UK LIMITED include the Managing Director, Mark Sturdy, and the Sustainability Manager, Sarah Smith.
Their website address is www.faurecia.com and their registered office address is at 106-126 Feltham Road, Ashford, Middlesex, TW15 1YD. Overall, FAURECIA AUTOMOTIVE SEATING UK LIMITED is a sustainable and innovative company that is dedicated to providing high-quality seating products and services to the automotive industry.
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