SES (ENGINEERING SERVICES) LIMITED

Company number: 00690190

Reporting period:
1 January 2024 to 30 June 2024

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

This report was filed on 30 July 2024

and approved by Philip Wainwright

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

within 30 days: 82%
in 31 to 60 days: 15%
in 61 days or more: 3%

Invoices due but not paid within agreed terms: 43%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

SES (Engineering Services) Limited do not use standard payment terms. Payment terms are agreed with suppliers in line with contract negotiations. The most frequently used payment terms in the reporting period are 60 days from the end of month following the tax point of invoice.

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

Answer not provided

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

For smaller businesses, 64% of invoices were paid within 30 days.

Dispute resolution process

Material Deliveries - If there is no record of a delivery being made, proof of delivery is requested by the accounts department. Incorrect Price - If goods are charged at a different rate to that agreed at the point of ordering, the buying dept. will contact the supplier to resolve the discrepancy. Sub-Contractors - Where dispute arises, the Project QS will liaise with the sub-contractor to resolve any issues. For both suppliers and subcontractors if the dispute cannot be resolved through the normal process as detailed above the matter will be escalated internally to either the financial controller, finance director, group supply chain director or regional director dependent upon the nature of the dispute.

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.

Yes, this business has signed up to: Prompt Payment Code

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.

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?