INMARSAT GLOBAL LIMITED
Company number: 03675885
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
21 January 2019
Approved by:
Antony Bates
Payment statistics
Average time taken to pay invoices: 62 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 52%
- in 61 days or more: 22%
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
0 days
Longest standard payment period
60 days
Standard payment terms
We have Procurement Policies Terms are agreed with vendors Standard terms are 60 calendar days from date of invoice
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
Disputing an Invoice If the accuracy or completeness of an invoice is in question, a dispute will be filed with the vendor. A dispute can be defined as any discrepancy showing that something might not be true or accurate with the invoice/billing document that may result in the delay of payment (please refer the requirements above for more details of Inmarsat’s specific requests) Notifying the Vendor • The vendor must be notified within 7 calendar days from the date Inmarsat Accounts Payable dept. first receive the invoice. • Send an email notice of dispute to the vendor. State in the email that the referenced invoice is being returned for the following reasons: o Vendor has not complied with the Accounts Payable Invoice & Credit note requirements policy o There is a problem with the invoice provided (for example the Purchase Order number is not clearly detailed) o Other • Include the invoice as an attachment to the email. • Maintain email communication and the invoice until the dispute has been resolved. • If the vendor is wrong: o Await the new invoice. o The baseline date will be the date the new/corrected invoice is first received. • If Inmarsat is in error: o The baseline date will be the latter of the original invoice received date or the goods/services received date.
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