SNC-LAVALIN RAIL & TRANSIT LIMITED
Company number: 03062722
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
18 January 2019
Approved by:
Richard George
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 42%
- in 31 to 60 days: 41%
- in 61 days or more: 17%
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: 61%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
The company's standard payment terms are "no later than the last day of the month following that in which the invoice was received". The company endeavours to abide by this deadline on receipt of satisfactory invoices. Variations to the standard payment terms do exist for specific products / services.
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
SNC-Lavalin is committed to doing business with the highest integrity which includes treating all of its suppliers in a fair and professional manner. We aim to notify our suppliers of any issues promptly and resolve queries as quickly as possible. In the event that a dispute cannot be resolved by our Accounts Payable team, it would be escalated within Finance and to the local Practice Director, as appropriate.
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