GOV.UK
MARINE HARVEST (SCOTLAND) LIMITED
Company number: SC138843
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 31 January 2019
and approved by Piotr Kapinos
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 65%
- in 31 to 60 days: 34%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 78 %
Payment terms
Shortest standard payment period
15 days
Longest standard payment period
60 days
Standard payment terms
Marine Harvest Scotland Ltd have standard payment terms which range between 30 days and 60 days. This applies to the vast majority of suppliers and covers both Operating expenditure and Capital expenditure.
Where we have main suppliers, who tend to be larger companies the standard payment terms applied are 60 days post invoice. This is discussed and agreed with the supplier prior to contract commencement and reviewed where necessary at the end of contract periods which are generally 1 year.
Where we have a medium/small sized supplier which is generally the majority of the businesses we apply standard terms of 30 days post invoice.
Where there are monthly cash flow transactions between Marine Harvest group, payments are generally in the range 15 – 45 days.
There are variations to those terms from time to time under the following circumstances:
• New suppliers
• Local shops in remote areas
• Local fuel depots in remote locations
• Where a Capital project has been negotiated and to enable competitive pricing
• Specific item purchases
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
A dispute on payments would arise if the purchased items do not meet the standards required, are time and operationally sensitive, damaged or are not fit for the purpose intended. The project manager would attempt to resolve the dispute with the supplier and may seek to withhold any final payment due which would likely be in the region of 5% of the total project value. The supplier would be informed by phone. The project manager would report any unsolved dispute and reason to their line manager who in turn would make a recommendation to the Financial or Managing Director to withhold payment.
Decisions on withholding payments are made between the Financial Director and Managing Director.
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No