CRP SUBSEA LIMITED
Company number: 01369166
Reporting period:
1 October 2023 to 31 March 2024
Report filed on:
29 April 2024
Approved by:
Andy King
Payment statistics
Average time taken to pay invoices: 79 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 37%
- in 61 days or more: 43%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 29%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
90 days
Standard payment terms
Standard payment terms of 60 days, with a large number of suppliers on 60 days end of month occasional proforma invoices necessitate same day payment
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
90 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Supplier invoices are typically received in PDF format. The invoices run through various compliance checks to ensure that the invoice can be processed. Invoices will be processed and left as unposted if any issue with an invoice is picked up. Should a dispute arise from an Operational perspective, the requestor will contact the supplier regarding the issue at hand. The AP team will keep the invoice as unposted pending the resolution of the issue raised between AIS CRP 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 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.
No
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