OCEAN PARTNERS UK LIMITED
Company number: 05171451
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 30 July 2019
and approved by Neil Poulter
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 10%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 16 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Ocean Partners does not have standard payment terms that it imposes on its suppliers. All payment terms for non-commodity acquisitions are set by the suppliers and are most frequently 30 days. Commodity purchase contract payment terms are mutually agreed during contract negotiations and are most frequently 0 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Initial resolution would be by discussion with the supplier and if there was still no agreement then it would be carried out in accordance with the dispute resolution terms within the contract or the suppliers standard terms and conditions.
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