The average time taken for FUGRO GB MARINE LIMITED to pay invoices has decreased by 2.3% from the first period to the third period, indicating a trend towards faster payment. The percentage of invoices paid within 30 days has increased by 0.5% and the percentage of invoices paid between 31 and 60 days has decreased by 2.1%, further supporting the trend of faster payment. However, the percentage of invoices paid later than 60 days has increased by 0.9%, indicating some volatility in payment times.
The volatility in FUGRO GB MARINE LIMITED's payment times can be seen in the fluctuations of the percentages of invoices paid within 30 days, between 31 and 60 days, and later than 60 days. While there is a general trend of faster payment, there are some periods where the percentage of invoices paid later than 60 days has increased. This could be due to various factors such as changes in the company's financial situation or external factors affecting the business.
Looking at the data from the past three periods, FUGRO GB MARINE LIMITED has shown a trend towards faster payment, with the average time taken to pay invoices decreasing by 2.3%. The percentage of invoices paid within 30 days has also increased by 0.5%, indicating that the company is making efforts to pay their suppliers on time. However, there is some volatility in payment times, with the percentage of invoices paid later than 60 days increasing by 0.9%. It is important for the company to continue to monitor and improve their payment processes to ensure timely payment to suppliers.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | |||||
| 01 Jan 2018 - 30 Jun 2018 | 10 Aug 2018 | 45 | 23% | 64% | 14% | 77% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
Communicate with supplier to agree any missing items or credits notes to be raised Query original order
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Fugro GB Marine Limited is a UK subsidiary within the Fugro group, an international group providing Geo-data services. The group uses geotechnical, geophysical and survey expertise to support energy, infrastructure and marine projects, including offshore wind site characterisation, subsea inspections, pipeline surveys and coastal and ocean studies. Group activities span energy transition support, nearshore and urban development consulting, and geotechnical investigations for infrastructure such as bridges and dams. The registered entity forms part of this global group's UK marine operations, contributing to survey and geo-data work rather than trading as a standalone brand. It is registered under SIC code 74909, other professional, scientific and technical activities.
Generated from the company's website and Companies House records. Sources: alluvial.co.uk · alluvial.co.uk