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AMEC FOSTER WHEELER NUCLEAR UK LIMITED

Company number: 01120437

Reporting period:
1 January 2018 to 30 June 2018

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

This report was filed on 27 July 2018

and approved by Nicola O'Keefe

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

• within 30 days: 66%
• in 31 to 60 days: 25%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 16 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

Our standard payment terms are 30 days

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

Yes – Yes there were changes made to our standard terms in our reporting period. Following the recent acquisition by Wood group of Amec Foster Wheeler we are in the process of standardizing terms across the new business. This will enable greater transparency across our supply chain and support a robust payment process.

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

Yes – Engagement with suppliers will vary depending the extent and reach of any change (e.g. enterprise wide or local variations). Engagement method will be selected that is most appropriate and may include formal letters, meetings, project enquiry documents and contractual variations. Some informal discussions may take place at local levels throughout the organisation.

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

Amec Foster Wheeler Nuclear UK Limited are committed to being financially responsible and acting with integrity. We endeavour to resolve all disputes in a fair and timely manner. Disputes are typically resolved by discussion between the supplier and the business focal point and in case 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.

Yes – Government 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