BUREAU VERITAS SOLUTIONS MARINE OFFSHORE LIMITED
Company Information
- Company Number
- SC380777
- Registered Address
- 13 Queen's Road, Aberdeen, United Kingdom, AB15 4YL
- Status
- Active
- Employee Count
- 26.0
- Turnover
- 4309148.0
- EBITDA
- 1216106.0
Additional Details
- Website
- https://www.mac-l.com/
- Company Type
- Private limited Company
- Incorporated On
- 21 June 2010
- Nature of Business
- 74909 - Other professional, scientific and technical activities not elsewhere classified
- Industries
- Property,Infrastructure And Construction,Travel And Transportation
- Region
- Aberdeen
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| 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 | 31 Jan 2024 | 52 | 68% | 16% | 16% | 16% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 34 | 77% | 16% | 6% | 6% |
| 01 Jul 2022 - 31 Dec 2022 | 06 Feb 2023 | 43 | 67% | 16% | 17% | 17% |
| 01 Jan 2022 - 30 Jun 2022 | 05 Aug 2022 | 50 | 66% | 20% | 14% | 14% |
| 01 Jul 2021 - 31 Dec 2021 | 17 Jan 2022 | 45 | 74% | 16% | 10% | 10% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 145 | 62% | 7% | 31% | 60% |
| 01 Jul 2020 - 31 Dec 2020 | 09 Feb 2021 | 79 | 49% | 19% | 32% | 32% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 24 | 4% | 57% | 39% | 39% |
| 01 Jul 2018 - 31 Dec 2018 | 31 Jul 2019 | 30 | 60% | 34% | 6% | 40% |
Company Summary
BUREAU VERITAS SOLUTIONS MARINE & OFFSHORE LIMITED is a global company that provides inspection, testing, certification, and technical consultancy services for the marine and offshore industries
They have a strong focus on sustainability and offer a wide range of products and services to promote environmentally friendly practices in these industries
Their sustainability program includes initiatives such as reducing carbon emissions, promoting renewable energy sources, and implementing sustainable practices in their operations
They also provide training and support to help their clients achieve sustainable goals
The company's key people include Didier Michaud-Daniel, the Chief Executive Officer, and Philippe Donche-Gay, the President of Marine & Offshore
They both have extensive experience in the industry and are committed to driving the company's sustainability efforts
BUREAU VERITAS SOLUTIONS MARINE & OFFSHORE LIMITED's products and services include classification and certification of ships and offshore structures, risk management and compliance services, and technical consultancy for complex projects
They also offer digital solutions to help their clients optimize their operations and reduce environmental impact
The company's website is www.bureauveritas.com and their registered office address is Bureau Veritas Solutions Marine & Offshore Limited, 5 New Street Square, London, EC4A 3TW, United Kingdom
Company Review
Trend Analysis
The trend for BUREAU VERITAS SOLUTIONS MARINE & OFFSHORE LIMITED's average time to pay invoices has been fluctuating over the past three periods, with a significant increase in 2021 and a decrease in 2022, followed by another increase in 2023.
Volatility Analysis
The volatility in the percentage of invoices paid within 30 days has been relatively low, with a slight decrease in the most recent period. However, there has been significant volatility in the percentage of invoices paid between 31 and 60 days, with a sharp increase in 2021 and a decrease in 2022. The percentage of invoices paid later than 60 days has also been volatile, with a decrease in 2022 and an increase in 2023.
Summary Analysis
In the past three periods, BUREAU VERITAS SOLUTIONS MARINE & OFFSHORE LIMITED has seen a decrease in their average time to pay invoices, from 79 days in 2020 to 34 days in 2023. This is largely due to an increase in the percentage of invoices paid within 30 days, from 4% in 2020 to 77% in 2023. However, there has also been an increase in the percentage of invoices paid later than 60 days, from 39% in 2020 to 16% in 2023. The company's best period for early payment was in 2023, with 77% of invoices paid within 30 days, while their worst period for late payment was in 2021, with 39% of invoices paid later than 60 days.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard Terms and Conditions are 60 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Dispute Resolution Process
Disputed invoices are queried between the purchaser and the supplier in the first instance. If the purchaser cannot get to a resolution the query is escalated to the accounts payable team to resolve. Invoices are not approved for payment until the query is resolved.
Other Payment Information
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
