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ENI INTERNATIONAL RESOURCES LIMITED

Company number: 04339898

Reporting period:
1 January 2019 to 30 June 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 5 July 2019

and approved by Marco Volpati

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

• within 30 days: 41%
• in 31 to 60 days: 27%
• in 61 days or more: 33%

Invoices due but not paid within agreed terms: 46 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

Standard terms for the payment to suppliers are 30-60 days.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

The below factor needs to be taken into account when interpreting the statistics in this report:
All suppliers payments are processed through the bank of Eni Group with transfers done twice a week.
A large number of payments in the statistics of this report are presented as not paid within the agreed terms because the payment is processed with the timing indicated above and payments will normally be received by the supplier within a few days of the due date.
In addition statistics presented in this report includes payments presented as not paid within the agreed terms because details included in the invoice and/or back up received by the supplier are not sufficient for the approval process and this lack of proper information delay the payment process. In this case the business line involved in the approval process contact immediately the supplier in order to receive all the information requested and after the approval of the document, done by the competent business unit, the Company’s finance departments approve the payment. The suppliers receive the amount due in maximum three days by the approval of the document.

Any other information about payment terms

N/A

Dispute resolution process

The Company will contact the supplier in case of any material discrepancies with the agreed terms on an invoice or in relation to other disputed matters. The supplier and the Company will endeavour to resolve any dispute in accordance with the terms of the relevant contract.
Other payment

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