| 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 | 28 Jan 2019 | 52 | 13% | 62% | 25% | 75% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our Company is part of larger Schlumberger Group of companies and based on its group policies and processes, there are a range of payment terms being followed depending on the suppliers and terms negotiated. In this reporting period, the most frequent payment terms are 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
90
Dispute resolution provision are contained in most of our supplier contracts. Our Accounts Payable business partner is required to resolve any dispute regarding invoice and payment status per their agreed Service Level Agreement (SLA) within 3 working days. If no resolution is provided by the partner within this period the supplier has the option to forward the issue to Accounts payable teams located in Procurement Service Centre.
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
M-I DRILLING FLUIDS U.K. LIMITED is a leading provider of drilling fluid solutions for the oil and gas industry. The company is committed to sustainability and has implemented various initiatives to reduce their environmental impact.
Their sustainability program includes a focus on reducing waste, promoting recycling, and using environmentally friendly products and processes. They also prioritize the health and safety of their employees and strive to maintain high ethical standards in their operations.
M-I DRILLING FLUIDS U.K. LIMITED offers a wide range of products and services including drilling fluid systems, solids control equipment, and waste management services. Their products are designed to increase efficiency and reduce costs for their customers, while also being environmentally responsible.
The key people at M-I DRILLING FLUIDS U.K. LIMITED include their Managing Director, who oversees the overall operations of the company, and their team of experienced engineers and technical experts who provide support and expertise to their clients.
For more information, their website address is https://www.m-i-swaco.com/en/about-us/locations/uk.html and their registered office address is: M-I DRILLING FLUIDS U.K. LIMITED, 1 Park Row, Leeds, LS1 5AB, United Kingdom.