CGG SERVICES (UK) LIMITED
Company number: 06923682
Reporting period:
1 January 2023 to 30 June 2023
Report filed on:
28 July 2023
Approved by:
Robert Bell-Davies
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 25%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 40%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms are numbers of days when inv is due for payment since tax point. For instance is inv date is 01/01/2023 and payment terms are 30 days, inv will be due for payment on 31/01/2023. After this date inv will become overdue
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Invoices from CGG suppliers are send to AP team via email (Accounts.PayableUK@cgg.com) or by post. AP Accountant will send them via approval system (Yooz) to requestor of goods or services. If there is any issue with inv, AP Accountant will keep inv on hold and should check with supplier for possible credit memo for full inv or partial. If credit memo is for whole inv, revised inv should be sent for re-processing. If vendor raise partial credit AP accountant will process original inv and credit note and during payment, will process both (payment will be: inv minus credit memo). Once payment completed supplier will get funds and remittance advice (sent via email)
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