CGG SERVICES (UK) LIMITED
Company number: 06923682
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
27 January 2020
Approved by:
Robert Bell-Davies
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 26%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 59%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Condition under which seller will complete a sale. Typicaly these terms specify the period allowed to a buyer to pay off the amount due. Standard deferred payment period is 30 days, which means customer has got 30 days from Tax point to settle the inv. after this agreed period with customer inv will be 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
Customer send statement via email, post or make a phone call. Accounts Payable Accountant (APA) will check the status of the inv: -if received and recorded in ERP system and ready to be paid -If pending approval -If there is problem on the inv -If inv has been paid already All depends of the situation If inv has been approved for payment, it will be paid on the first available payment run during the week. If inv pending approval APA will contact with current approver and try to get approval, so inv can be paid shortly. If there is a problem on the inv AP accountant will explain the situation to customer (waiting for the credit note, incorrect company name on the inv) Once inv been paid by BACS/CHAPS/SEPA (depending of the currency) supplier will receive remittance advices via email together with the funds
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