FUGRO GEOSERVICES LIMITED
Company number: 01284352
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by Ross Stevens
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 44%
- in 61 days or more: 23%
Invoices due but not paid within agreed terms: 66 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
The company payment terms vary by supplier. Payment terms are negotiated with new suppliers as part of the Procurement Process.
The company’s standard terms are 60 days from end of month, although agreed payment terms vary from payment on receipt to standard terms which in turn translate to 76% of invoices being paid under the 60 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
Any other information about payment terms
N/A
Dispute resolution process
If an invoice is disputed, the supplier will be contacted for resolution and the invoice will go on hold. Should there not be a resolution then it can be escalated to The Procurement Manager or Finance Manager for resolution.
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