OIL SPILL RESPONSE (CAPPING) LIMITED
Company number: 07968910
Reporting period:
1 July 2025 to 31 December 2025
Report filed on:
23 January 2026
Approved by:
Richard Morrish
Payment statistics
Average time taken to pay invoices: 37 days
Total value paid:
- within 30 days: £3,682,181 (73%)
- in 31 to 60 days: £1,329,484 (26%)
- in 61 days or more: £13,719 (< 1%)
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 32%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £566,905
- payments due in the reporting period which have not been paid within the agreed period: 34%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Payment terms of 60 days are offered to suppliers under the entities standards terms, however the entity will negotiate different terms with suppliers where it is appropriate to do so. The standard payment terms have not changed during the reporting period. Any change to negotiated payment terms is agreed in writing between the parties. No payment period of longer than 90 days has been agreed for any contract.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
The process for dispute resolution aims to be a clear, fair, and efficient process for resolving disputes under law. It prioritises negotiated settlement and aims to minimise cost, time, and disruption. It operates under the below principles:
· Negotiation First: Parties must make every reasonable effort to resolve disputes amicably through direct negotiation.
· Good Faith: All parties shall act honestly and fairly throughout the process.
· Proportionality: Resolution methods should be proportionate to the nature and complexity of the dispute.
In the event of an escalation, disputes will follow the below steps:
Step 1: Informal Negotiation
· The initiating party shall notify the other party in writing.
· Both parties will attempt resolution within a reasonable period of notice.
Step 2: Executive-Level Review
· If unresolved, the matter shall escalate to the Executive Team for structured discussion and decision-making.
· A written summary of the dispute and prior attempts at resolution must be provided.
Step 3: Mediation (Exception Basis)
· If executive review fails, parties may agree to mediation.
· Costs of mediation shall be shared equally unless otherwise agreed.
Step 4: Legal Proceedings (Final Resort)
· Litigation or arbitration shall only be pursued when all other steps have been exhausted.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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