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Prompt Payment Code

QinetiQ became a signatory to the Prompt Payment Code (PPC) in 2013 and has re-committed to the terms of the new code, issued by the Small Business Commissioner in January 2021. In our commitment to this, we will both abide by its requirements and promote its adoption across our supply chain.

Find out more about the Prompt Payment Code


Discover full details on the prompt payment code by clicking the button below to their website.

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supply chain

In summary, our commitment to the code means QinetiQ Ltd will seek to:

  • Pay 95% of invoices within the agreed payment terms, without attempting to change terms retrospectively.
  • Pay 95% of all invoices within 60 days, and 95% of invoices from businesses with fewer than 50 employees within 30 days.
  • Acknowledge suppliers right to use late payment legislation to invoice for late payment interest and charges when appropriate.
  • Provide clear and easily accessible guidance on payment procedures and invoicing requirements at on-boarding stage and on an ongoing basis.
  • Ensure there is a system for dealing with complaints and disputes which is clearly. communicated, and providing a contact-point (or online portal) for them to ascertain the status of invoices being processed.
  • Advise suppliers immediately if there is any reason why an invoice will not be paid to the agreed terms.
  • Use the PPC logo to demonstrate commitment to the Code principles and enhance supplier confidence.
  • Avoid any practices that adversely affect the supply chain.
  • As a signatory ourselves we recommend the adoption of the code by all our suppliers.

 

In support of the PPC, QinetiQ has compiled a set of actions for suppliers, which will enable us to process and pay supplier invoices more punctually:

  • Review and confirm the correct email address for Purchase Orders (PO) receipts and remittance payments, which should be sent to fssvendor@QinetiQ.com. Correct details will improve the issuance of PO numbers onto invoices and allow swift allocation of payments.
  • Review and confirm that you are sending a PDF attachment of your invoice to supplierinvoices@QinetiQ.com, by email only. We cannot be held liable for late payments if the invoices are not submitted correctly. Queries and statements can be directed to FSSAccountsPayable@QinetiQ.com.
  • Ensure that the invoice details (goods/services & prices) align with the PO. If the invoice is identical to the order then this increases the likelihood of a successful first-time match.
  • Our system uses OCR technology to identify key information on your invoices. There are certain formats that are OCR friendly that can help avoid errors, which can lead to delays in processing times:
  1. Invoice date format: as dd/mm/yyyy
  2. Your VAT registration number format: GB123456789 (no spaces)
  3. Our PO number format: PO 3210000000 (a space between PO and the digits)

QinetiQ's Payment Practice Reports

Our payment practice reports are publicly available to read here