This information is as reported by the business, and responses are in their own words.
Standard payment terms
North East RIG-OUT Ltd has two main standard payment terms which are 30 and 60 days. These terms may vary in accordance with individual agreements with suppliers.
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
75
North East RIG-OUT Ltd will raise any queries that will affect Supplier Payments with the relevant Internal Departments and with the Suppliers as soon as possible and resolve appropriately
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
North East Rig-Out Limited is a company based in the United Kingdom that provides a range of services and products to the oil and gas industry. The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact.
Their sustainability program includes using environmentally friendly materials, reducing waste, and promoting energy efficiency in their operations. They also prioritize the health and safety of their employees and have strict policies in place to ensure a safe working environment.
The company's main products and services include rigging and lifting equipment, wire ropes, and various engineering services. They also offer training programs and consultancy services to their clients.
The key people at North East Rig-Out Limited include their managing director, who has over 25 years of experience in the industry, and their team of highly skilled engineers and technicians.
For more information on their products and services, interested parties can visit their website at www.northeastrigout.com. The registered office address for North East Rig-Out Limited is 15-17 Northumberland Street, Newcastle Upon Tyne, NE1 7AS, United Kingdom.