Exxon requiring 60–90-day payment terms amounts to

  • Published on: Nov 25, 2021 - 5:54 PM
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Exxon requiring 60–90-day payment terms amounts to While Guyana’s nascent oil and gas sector has created new business opportunities for local companies, the industry players’ requirement of making payments, sometimes exceeding 90 days after providing goods and services, amounts to local businesses financing ExxonMobil and its subcontractors’ operations. The News Room has received complaints from several local companies, who have confirmed that ExxonMobil and its subcontractors routinely demand that businesses agree to receive their payments 60-90 days after providing their goods and services. Compounding this requirement, the vendors are …
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