CNR INTERNATIONAL (U.K.) LIMITED
Company number: 00813187
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
30 January 2020
Approved by:
Barry Duncan
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 94%
- in 31 to 60 days: 5%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 7%
Payment terms
Shortest standard payment periods
10 days
Longest standard payment period
30 days
Standard payment terms
30 days from date of receipt of a correctly prepared and adequately supported invoice.
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
30 days
30 days from date of receipt of a correctly prepared and adequately supported invoice.
Any other information about payment terms
No further comment provided
Dispute resolution process
The overarching framework for resolution of payment disputes is stipulated within the oil & gas industry standard LOGIC contracts, which are available on www.logic-oil.com. We seek to resolve disputes in a fair and professional manner and to satisfaction of all parties. Disputes on invoices are dealt with initially through the Accounts Payable Team, and referred to the relevant contract sponsors and/or operational department to resolve the dispute and enable prompt payment of the invoice.
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.
Yes, this business has signed up to: Oil and Gas UK Supply Chain Code of Practice, which includes the prompt payment code. Standard Oil Accounting Procedures Simplification of Joint Venture Accounting for the UK Oil & Gas Industry.
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