Score of 94/100 qualifies for PaymentCheck Certification
The average time taken for MACQUARIE AIRFINANCE GROUP LIMITED to pay invoices to suppliers has remained consistent at 30 days over the past three periods. However, there has been a notable improvement in the percentage of invoices paid within 30 days, increasing from 85% in Oct 2019-Mar 2020 to 100% in Apr 2020-Sep 2020. This suggests that the company has been paying invoices more promptly in recent months.
The volatility in the average time to pay for MACQUARIE AIRFINANCE GROUP LIMITED has been relatively low, with only a 15% decrease in the percentage of invoices paid within 30 days from the highest period to the lowest. This indicates that the company has been consistent in its payment practices.
In the past three periods, MACQUARIE AIRFINANCE GROUP LIMITED has maintained an average time to pay of 30 days. However, there has been a significant improvement in the percentage of invoices paid within 30 days, increasing from 85% in Oct 2019-Mar 2020 to 100% in Apr 2020-Sep 2020. This shows a positive trend of paying invoices more promptly. The company has also had low volatility in its payment practices, with only a 15% decrease in the percentage of invoices paid within 30 days from the highest period to the lowest.
| 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 Oct 2019 - 31 Mar 2020 | 05 May 2020 | 30 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We do not use standard terms. Our most frequently used payment terms for qualifying contracts is payment within 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
30
We do not have a formal dispute resolution process. Any dispute will typically be considered by our Vice President, Financial Planning & Treasury, within 5 working days of such dispute arising and will be escalated to our Chief Executive Officer if not resolved with the concerned supplier.
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
Macquarie Airfinance Group Limited is a UK-registered company classified under activities of other holding companies, indicating it functions as a holding entity within the wider Macquarie Group. Macquarie Group describes itself as a global financial services organisation with Australian heritage, operating in around 30 markets and providing asset management, banking, advisory and risk and capital solutions across debt, equity and commodities. The UK arm has been active since 1989, investing in infrastructure such as digital, energy, housing, utilities and transport, with its regional headquarters in London. This entity itself does not trade directly with the public but sits within that corporate structure, its own activities being administrative or holding in nature rather than direct financial services provision.
Generated from the company's website and Companies House records. Sources: macquarie.com · macquarie.com