| 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 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 28 | 63% | 19% | 18% | 26% |
| 01 Dec 2017 - 31 May 2018 | 29 Jun 2018 | 38 | 50% | 31% | 19% | 59% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Longest Standard terms are agreed with our key partners and those benefiting from group spend. They tend to be large international organisations
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
120
Disputes are referred to sourcing by staff and Accounts payable. Sourcing engage with the supplier clarify any discrepancies and to agree payment terms.
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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
GE Money Servicing Limited is a UK registered company, formerly known as Igroup Servicing Limited and, prior to that, Firstline Servicing Limited. Companies House records its nature of business as other business support service activities. It sits within the General Electric Company corporate group, with a modern slavery statement filed as part of the wider General Electric Company group statement, and is controlled by Igroup 8 Limited. Group filings reference related entities, GE Money Home Finance Limited and GE Money Secured Loans Limited, both now in liquidation, indicating a historic role supporting home finance and secured loan servicing operations within the former GE Money lending business rather than trading independently as a lender itself.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · companiesintheuk.co.uk