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G4S SECURE SOLUTIONS (IRAQ) LIMITED

Company number: 05128617

Reporting period:
1 July 2021 to 31 December 2021

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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 January 2022

and approved by Laura Mennell

Payment statistics

Average time taken to pay invoices: 18 days

Invoices paid:

• within 30 days: 91%
• in 31 to 60 days: 9%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 14 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

G4S standard payment terms to large suppliers is the next payment run following 60 days from the receipt of invoice. Standard terms for SMEs and smaller suppliers is the next payment run following 30 days from the date of receipt of Invoice or before.

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

No

Maximum contractual payment period agreed

60 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

A supplier should contact the Finance Shared Service Centre on rmaccounts.payable@rm.g4s.com

The Finance Shared Service Centre will aim to respond back the supplier within next 48 working hrs.

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 – The Prompt Payment Code (PPC)

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