TECHNIPFMC UMBILICALS LTD
Company Information
- Company Number
- 02400155
- Registered Address
- Hadrian House, Wincomblee Road, Newcastle Upon Tyne, United Kingdom, NE6 3PL
- Status
- Active
- Employee Count
- 296
- Turnover
- £95,539,000
- EBITDA
- £8,523,000
Additional Details
- Website
- https://technip.com
- Company Type
- Private limited Company
- Incorporated On
- 3 July 1989
- Nature of Business
- 32990 - Other manufacturing not elsewhere classified
- Industries
- Coming Soon
- Region
- North East
Time to Pay
Payment Timeline
Payment Features
Performance Reports History
| 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 2025 - 30 Jun 2025 | 19 Aug 2025 | 64 | 19% | 32% | 49% | 27% |
| 01 Jul 2024 - 31 Dec 2024 | 24 Feb 2025 | 67 | 12% | 32% | 56% | 43% |
| 01 Jul 2023 - 31 Dec 2023 | 14 Feb 2024 | 68 | 18% | 51% | 31% | 62% |
| 01 Jul 2022 - 31 Dec 2022 | 10 Feb 2023 | 67 | 14% | 55% | 31% | 50% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Jul 2022 | 67 | 24% | 51% | 25% | 44% |
| 01 Jul 2021 - 31 Dec 2021 | 10 Feb 2022 | 61 | 13% | 50% | 37% | 54% |
| 01 Jan 2021 - 30 Jun 2021 | 12 Aug 2021 | 57 | 17% | 45% | 38% | 46% |
| 01 Jul 2020 - 31 Dec 2020 | 17 Feb 2021 | 56 | 17% | 45% | 38% | 49% |
| 01 Jul 2020 - 31 Dec 2020 | 09 Feb 2021 | 56 | 17% | 45% | 38% | 49% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 57 | 38% | 26% | 36% | 48% |
| 01 Jul 2018 - 31 Dec 2018 | 06 Feb 2019 | 64 | 30% | 35% | 35% | 85% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Unless otherwise specified in the purchase order or agreed by contract all payments shall be made electronically using payment term End of Month plus 90 days upon receipt of a supplier's correctly prepared and properly substantiated invoice. This equates to an average of 105 days. When it is offered the company may take advantage of a supplier’s settlement discount.
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
105
Dispute Resolution Process
Invoices and payments are managed by the Accounts Payable team. Any enquiries regarding payment that cannot be answered directly will be referred to the relevant buyer or requestor in the company to answer or take follow up action to resolve. Standard subcontract terms and conditions on disputes Terms of payment “If Purchaser fails to pay any amount due and payable hereunder by the stipulated date, Supplier shall notify Purchaser of such failure. In the event Purchaser fails to pay or otherwise dispute such amount within 30 Days after receipt of such notice, and as sole remedy for delay in payment of any such undisputed invoice, Supplier may be entitled to interest on the amount not properly paid when due from the day on which payment was due until such amount is paid in full. The rate of interest shall be the WSJ Prime Rate in force on the due date of payment, less 3%..” Resolution of disputes Amicable settlement of disputes is in the Parties’ mutual best interests. Each Party agrees to promptly notify the other of any dispute arising under the Agreement and to engage in good faith consultation between (i) Purchaser’s applicable Senior Category Manager or Regional Procurement Office Director on the one side and (ii) Supplier’s equivalent representative(s) on the other side to expeditiously resolve such dispute, in particular to safeguard the delivery to Purchaser's needs. If such consultation does not resolve the dispute within 60 Days from notification thereof, the Parties agree to escalate the dispute to good faith consultation between their respective General Managers (or equivalent). If the Parties fail to resolve the dispute via escalation within 60 Days from submission to the respective General Managers, the dispute may be referred to, and finally resolved by arbitration under the Rules of Arbitration of the International Chamber of Commerce, which are deemed incorporated by reference into this Article 29, in London, England. The arbitrators’ decision is considered as a final and binding resolution between the Parties.
Other Payment Information
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.
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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
Company Summary
TECHNIPFMC UMBILICALS LTD is a leading provider of subsea umbilical solutions for the oil and gas industry
Based in Newcastle upon Tyne, UK, the company designs, manufactures, and delivers high-quality umbilical products and services to clients worldwide.\n\nTheir sustainability program is focused on reducing their environmental impact and promoting sustainable practices throughout their operations
This includes reducing their carbon footprint, implementing waste reduction strategies, and investing in renewable energy sources
They also prioritize the health and safety of their employees and work closely with local communities to support social and economic development.\n\nTECHNIPFMC UMBILICALS LTD offers a wide range of products and services, including subsea umbilicals, subsea structures, and installation and maintenance services
These products are designed to withstand harsh marine environments and provide reliable connections for subsea systems.\n\nThe company is led by a team of experienced and highly skilled professionals, including managing director Jon Dunstan
They are committed to delivering innovative and cost-effective solutions to their clients while maintaining the highest standards of quality and safety.\n\nTo learn more about TECHNIPFMC UMBILICALS LTD and their products and services, visit their website at www.technipfmc.com/umbilicals
Their registered office address is TechnipFMC House, Unit 1, Cramlington Industrial Estate, Cramlington, Northumberland, NE23 7RH
