AKER SOLUTIONS LIMITED
Company number: 04977339
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
24 July 2019
Approved by:
Kay Anderson
Payment statistics
Average time taken to pay invoices: 58 days
Invoices paid:
- within 30 days: 40%
- in 31 to 60 days: 27%
- in 61 days or more: 33%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 13%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Aker Solutions’ 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.
In certain circumstances, where it has been agreed in writing by a duly authorised representative, Aker Solutions’ standard payment terms may differ from the standard of 60 days. In any event, the payment terms that apply are clearly stated on each purchase order issued / raised.
Were there any changes to the standard payment terms in the reporting period?
No
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
The Brownfield Projects segment of the business aspires to the best practice guidelines set out within the Oil & Gas UK Supply Chain Code of Practice.
Dispute resolution process
Integrity is at the core of Aker Solutions’ values and, as such, the business endeavours to resolve all queries / disputes in a fair and timely manner. Queries / disputes are resolved by discussion and agreement with a supplier and are typically managed by the buyer responsible for the affected purchase order.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Oil & Gas UK Supply Chain Code of Practice
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.
Yes
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