MSC CRUISE MANAGEMENT (UK) LIMITED

Company number: 09361148

Reporting period:
1 July 2020 to 31 December 2020

This information is as reported by the business, and responses are in their own words.

This report was filed on 28 January 2021

and approved by Jonathan Campbell

Payment statistics

Average time taken to pay invoices: 49 days

Invoices paid:

within 30 days: 1%
in 31 to 60 days: 79%
in 61 days or more: 20%

Invoices due but not paid within agreed terms: 99%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

90 days

Standard payment terms

The Company does not have standard payment terms. Payment terms are agreed with suppliers as part of the contract negotiations and ordering processes, with terms usually between 30 and 60 days.

Were there any changes to the standard payment terms in the reporting period?

The impact of COVID 19 has resulted in various amendments to payment terms with suppliers.

Were suppliers notified or consulted about these changes before they were made?

The Company has maintained a dialogue with its suppliers throughout the period of ongoing disruption caused by COVID 19.

Maximum contractual payment period agreed

90 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Disputes are resolved through mechanisms set out in underlying suppliers contracts/agreements and negotiations involving the relevant individuals at the Company 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 Prompt 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.

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.

Yes

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?