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 2024 - 31 Dec 2024 | 03 Feb 2025 | 45 | 24% | 52% | 24% | 89% |
| 01 Jan 2024 - 30 Jun 2024 | 23 Aug 2024 | 46 | 23% | 48% | 29% | 91% |
| 01 Jul 2018 - 31 Dec 2018 | 04 Feb 2019 | 51 | 19% | 57% | 24% | 78% |
| 01 Jan 2018 - 30 Jun 2018 | 02 Aug 2018 | 53 | 13% | 63% | 24% | 82% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment to be made within 45 days of receipt of invoice
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
60
Disputes are emailed to central mailboxes for each operating unit and then passed to the designated internal resource to resolve the dispute. Non resolution is escalated to senior onsite management.
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
Forum Energy Technologies (UK) Limited is a UK subsidiary within the Forum Energy Technologies group, whose parent is headquartered in Houston, Texas. The wider group designs, manufactures and supplies oilfield equipment and integrated solutions for the drilling, subsea, completions, production and infrastructure sectors of the oil and gas industry, alongside applications in renewable energy. It operates through two segments: Drilling and Completions, and Artificial Lift and Downhole, bringing together numerous legacy engineering brands. This Scottish-registered entity, based in Aberdeen, represents the group's UK presence supporting these energy-sector product lines. Companies House records the entity's nature of business as other business support services, though its parent group's core activity is oilfield equipment manufacturing.
Generated from the company's website and Companies House records. Sources: f-e-t.com · f-e-t.com