CGG SERVICES (UK) LIMITED
Company number: 06923682
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
15 January 2024
Approved by:
Robert Bell-Davies
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 27%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 52%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms is agreement between customer and supplier to settle the inv with agreed terms. CGG standard payment terms is 30 days, which means inv is due 30 days after tax point.
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
No further comment provided
Dispute resolution process
Dispute will apear, when goods or services not delivered as requested, partial delivered or wrong item delivered. Standard practise is AP team receive inv via email or post and process via Yooz to requestor. Once requestor satisifed inv will be authorized for ERP process and pay. Any issue with goods or services causing inv to be kept on hold and supplier should be contacted to request credit for wrong or missing items (not delivered). Once credit received AP team process in ERP inv less credit and pay. If full credit raised to cancel original inv and revised new inv delivered, AP team cancel inv and only process revised inv in ERP. Finally AP team will add inv or inv minus credit to weekly payment run and supplier shiould receive funds and remittance advice (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