Industry ranking
| 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 2023 - 31 Dec 2023 | 22 Jan 2024 | 55 | 31% | 22% | 47% | 39% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 64 | 19% | 19% | 62% | 64% |
| 01 Jul 2022 - 31 Dec 2022 | 23 Jan 2023 | 69 | 16% | 18% | 66% | 25% |
| 01 Jul 2021 - 31 Dec 2021 | 15 Feb 2022 | 69 | 14% | 18% | 68% | 28% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days for suppliers to MOD Contracts, 90 days for others.
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
Accounts Payable escalate any disputes to sourcing team who engage supplier to establish agreed term.
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
GE Steam Power Ltd is a UK registered company, incorporated in January 2002 and based in Rugby, Warwickshire. Companies House records its nature of business under the SIC code for the manufacture of electric motors, generators and transformers, indicating that the company operates within the electrical equipment manufacturing sector. No further first party website or descriptive evidence was available to confirm specific products, services or trading activity beyond this classification. The company remains listed as active on the official register. No additional operational, financial or group structure details were provided in the evidence supplied for this record.
Generated from the company's website and Companies House records.