Company number: 06923682
and approved by Robert Bell-Davies
Average time taken to pay invoices: 28 days
Invoices paid:
Invoices due but not paid within agreed terms: 59%
30 days
60 days
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.
Answer not provided
N/A
60 days
N/A
N/A
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.
For example, signatories to The Prompt 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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No