Company number: 06923682
and approved by Robert Bell-Davies
Average time taken to pay invoices: 33 days
Invoices paid:
Invoices due but not paid within agreed terms: 61%
30 days
60 days
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.
Answer not provided
N/A
60 days
N/A
N/A
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
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