GOV.UK
PHILLIPS 66 CS LIMITED
Company number: 02809975
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 28 January 2019
and approved by Les L. Jenkins
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 8%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 13 %
Payment terms
Standard payment period for qualifying contracts
2 days
Standard payment terms
Standard contractual terms relating to payment for the procurement of goods and/or services is 30 days from receipts of the invoice. In the commodities traded market Phillips 66 CS Limited uses industry standard terms which are negotiated with the suppliers as part of contractual negotiations
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Phillips 66 CS Limited has a dedicated Vendor Invoice Status (VIS) website that allows suppliers to view and monitor their account information, and a 24-hour hotline accounts payable call centre. Queries relating to the payment of invoices should, in the first instance be raised through VIS website or the account payable hotline.
Queries relating to the payment of invoices can also be directed to the individual responsible for the managing of the contract to which such invoice relates.
A query that cannot be so resolved may be referred to the finance department who may escalate the matter to the appropriate department head or the legal department, as necessary
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No