GEO AMEY PECS LIMITED
Company number: 07556404
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
31 July 2019
Approved by:
Richard Ward
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 86%
- in 31 to 60 days: 13%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
GeoAmey PECS Ltd works with suppliers to ensure best practice given its market position. We work with an agreed supplier list which is rigorously maintained in terms of quality and value of suppliers for the organisation. We maintain regular updates to ensure that both suppliers and organisation work within agreed parameters and expectations are managed.
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
All invoices are validated within a timely manner to ensure that in the small no. of instances where disputes arise, it is highlighted with a view to seeking a satisfactory outcome for both parties. GeoAmey PECS employs the services of a purchasing department and manages the process via dedicated personnel.
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