CGG SERVICES (UK) LIMITED
Company number: 06923682
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
26 July 2022
Approved by:
Robert Bell-Davies
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 68%
- in 31 to 60 days: 27%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 61%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms are condition related to purchase of goods or services by supplier. Majority invoicees processed by AP had 30 days terms, which means from tax point inv is due 30 days after. Those information are normally stated on the invoices, but if due day or payment terms not specified, AP applying standard 30 days terms.
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
CGG purchase goods or services and once goods or services delivered, AP should receive inv via email or post. If inv is correct and match goods or services delivery, AP should process for payment. If there is any issue / differences AP will keep inv on hold, or request credit from vendor. sometimes goods or services not provided and inv sent, AP in this instance keep inv outstanding until delivery completed. If inv is in dispute supplier should be informed via email or phone call, if there is issue of raising credit or revised inv, supplier should do so. AP team will wait untill credit or revised inv send and processed correct inv via ERP. Once credit and inv authorized or revised inv authorized, AP team should add them for next available payment run, usually Wednesday. Once payment completed, supplier should receive payment and email with remit
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