PREMIER OIL PLC
Company number: SC234781
Reporting period:
1 January 2019 to
30 June 2019
This report was filed on 25 July 2019
and approved by Richard Rose
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 25%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 27%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
30 days
Standard payment terms
Generally, the company has standard payment terms of 30 days with its suppliers. However, there are some contracts (typically those that have been in place for a number of years) that have payments terms of 14 days. Of the invoices that were paid after the agreed number of days, most relate to invoices that had payment terms of shorter than 30 days.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
Contact is preferably via email. Suppliers are directed to a shared mailbox with invoice queries. A complaint or concern will be addressed in a timely manner by the Company's representative dealing with the supplier concerned. However, such instances tend to be rare.
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, 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