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Company number: 02672435

Reporting period:
1 January 2023 to 30 June 2023

Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 10 July 2023

and approved by Peter Deer

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

Invoices due but not paid within agreed terms: 39 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

30 days

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


Maximum contractual payment period agreed

60 days

Any other information about payment terms


Dispute resolution process

Fred. Olsen Cruise Lines employs a Purchase Ledger Controller who is the first point of contact should a supplier want to query or resolve an issue regarding invoice payment. Contact can be made via telephone Monday to Friday 9am to 5pm or via email. Phone calls are usually answered immediately and the dedicated purchase ledger mailbox is monitored on a daily basis with target response times within 2 working days. If an invoice dispute is in relation to the supply of goods or services, direct contact is established between the department responsible for the order and the supplier.

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?