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WOOD GROUP INDUSTRIAL SERVICES LIMITED

Company number: 05159696

Reporting period:
1 July 2019 to 31 December 2019


Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 31 January 2020

and approved by Bob Bell

Payment statistics

Average time taken to pay invoices: 67 days

Invoices paid:

Invoices due but not paid within agreed terms: 51 %

Payment terms

Standard payment period for qualifying contracts

60 days

Standard payment terms

Our standard payment terms are 60 days.

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

Wood Group Industrial Services are committed to being financially responsible and acting with integrity. We endeavor to resolve all disputes in a fair and timely manner. Disputes are typically resolved by discussion between the supplier and the relevant commercial manager and where escalation is required to the business grouping SVP and VP F & A.

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