SEAMAP LIMITED

Standard payment terms

Most of our suppliers standard payment terms are 30 days but with some suppliers we have 60 and 90 days payment terms. Therefore, a proportion of invoices that have fallen into 31 to 60 days and 61 days or more category would not have been due for payment. In terms of the percentage of invoices shown as not paid within the agreed terms, most of these payments are paid at the beginning of each calendar month and are therefore only overdue by a few days. Additionally any invoices subject to query with the supplier will have been included in the category of not paid to terms when, in fact, they will be paid once the query has been resolved. To ensure that we maintain excellent relationships with our suppliers and not disrupt the supply chain we always endeavor to pay suppliers to terms.

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

90

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