GBT TRAVEL SERVICES UK LIMITED

Company number: 08774160

Reporting period:
1 July 2018 to 31 December 2018

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This report was filed on 30 January 2019

and approved by Paul Wyatt

Payment statistics

Average time taken to pay invoices: 14 days

Invoices paid:

• within 30 days: 92%
• in 31 to 60 days: 8%

Invoices due but not paid within agreed terms: 24%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

GBT Travel Services UK Limited’s standard payment terms state that payment of third party invoices for goods and services will be made within 60 days of receipt of a correct, undisputed and properly due VAT invoice and PO number (if any), unless otherwise agreed in writing by a duly authorised representative. GBT Travel Services UK Limited reserves the right to refuse payment of part or all of any invoice which is not submitted in accordance with the conditions above. If GBT Travel Services UK Limited disputes an invoice amount, it shall pay any amount it believes is due for payment and liability for payment of the balance shall be determined by agreement between the Parties acting reasonably or, failing such agreement, in accordance with law.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

The firm has a dedicated Finance Service Desk which is reachable by email (GBT.P2P.INVOICES@amexgbt.com). Suppliers with invoice queries need to contact this team and if the service desk team is not able to resolve they can escalate the issue to the accounts payable team. The accounts payable team will reach out to the invoice contact if not clear from the system why the invoice has not been approved for payment.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

Yes, this business has signed up to: Prompt Payment Code

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.

No

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.

No

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?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No