SGS BUSINESS PROCESS SERVICES (UK) LIMITED
Company number: 03851175
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 30 January 2019
and approved by Kenneth John Fowlie
Payment statistics
Average time taken to pay invoices: 73 days
Invoices paid:
- within 30 days: 11%
- in 31 to 60 days: 32%
- in 61 days or more: 57%
Invoices due but not paid within agreed terms: 81 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
The most common type of supplier is for vehicle repair work where each supplier has both 30 and 60 day terms, the terms used for each invoice are determined by the specific characteristics of our customers' case. The most commonly used payments terms are 60 days from date of receipt of correctly submitted invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
A small number of invoices are conditional upon the Company recovering the supplier's fee from the fault insurer, effectively making the payment terms open ended. Given there is no end date on payment terms for these invoices they cannot be reflected in the maximum contractual payment period above. The company's maximum contractual fixed payment period is 90 days.
Dispute resolution process
Disputes can be raised through either the Expense Team or the supplier’s Relationship Manager who will pass these through to the Expense Team for investigation and resolution. In the event that a dispute cannot be resolved by our Expense Team, it would escalate to the Expense Team Manager and Financial Controller in turn.
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.No
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?
Yes
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
Yes