CGG SERVICES (UK) LIMITED
Company number: 06923682
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
16 July 2021
Approved by:
Robert Bell-Davies
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 26%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 59%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms for CGG is 30 days, which means suppliers should be paid within 30 days from invoice day / tax point. If there is issue with invoices, such as goods or services haven't been delivered, invoices will be pending approvals untill deliveries completed. If goods been damaged during shipment, inv will be put on hold and supplier should raise full or partial credit.
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
N/A
Any other information about payment terms
N/A
Dispute resolution process
When there is issue with inv, AP team or requestor of goods/services will contact supplier and request credit note. Until this is sorted, inv will be kept on hold and no payment will be made, until revised inv or credit note related to inv will be delivered. As soon as this is provided and requestor will be satisfied, inv and credit note will be authorised and payment should be made on the next available weekly batch run. If supplier decides to send revised inv, AP team will demand credit note to cancel existing inv and send for approval to requestor revised one. Once requestor authorise revised inv, it will be added to the next available batch run. At the end payments will be made (BACS/CHAPS/SEPA/WIRE) and supplier will receive remittance advice.
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.
No, this business has not signed up to a code of conduct or standards on payment practices.
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