Prompt Payment Policy

Leonardo UK Ltd is committed to ensure that all suppliers are treated fairly, and that the company and its suppliers both benefit from reasonable terms of payment, that are both achievable and do not adversely affect cash-flow for either party.

The company therefore:

  • Aims to ensure suppliers are paid on time within the terms agreed at the outset of the contract.
  • Will not attempt to change the payment terms retrospectively without good reason.
  • Will not change practice on the length of payment for smaller companies on unreasonable grounds.
  • Will provide suppliers with clear and easily accessible guidance on payment procedures.
  • Provides a method for dealing with complaints and disputes in relation to payment processing, and a method for escalation of the before-mentioned complaint.
  • Will endeavour to advise if there is a reason an invoice may not be settled within the agreed terms.
  • Endeavours to comply with all applicable law and regulation, in relation to supplier payments.
  • Provides a method of electronic invoicing, either by fax or email transmission or by use of an invoicing portal.
  • Acknowledges the rights of suppliers to use late payment legislation to invoice for late payment interest and charges when appropriate.

Leonardo UK Ltd is an active member of the Prompt Payment code (PPC). Although Leonardo is not suspended from the code, it continues to produce a PPC action plan as it is committed to continuous improvement of payment performance. Details of the company’s action plan to improve payment performance.

Leonardo UK Ltd also complies with all relevant payment reporting legislation. Details of the company’s most recent payment statistics can be found on the UK Government website at the following link. https://www.gov.uk/check-when-businesses-pay-invoices