GOV.UK
IPM ENERGY TRADING LIMITED
Company number: 02462479
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 23 July 2018
and approved by Andrew Garner
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 97%
- in 31 to 60 days: 3%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Shortest standard payment period
10 days
Longest standard payment period
20 days
Standard payment terms
Invoices paid as per the due date on the invoice.
Trading invoices paid as per the terms set out by the industry.
Electricity commodity invoices are paid per GTMA payment terms (by 10th working day), gas commodity invoices are paid by NBP payment terms (by 20th of month or on Friday prior if 20th is a weekend), emissions are paid per the IETA contract terms or terms as agreed on the contract.
There has been no change to these terms during the reporting period.
All invoices should be sent directly to the Back Office team at Canary Wharf offices.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
20 days
Any other information about payment terms
N/A
Dispute resolution process
The Master Agreements under which the Company enters into transactions will set out the disputes procedures to follow. Otherwise, disputes are notified to suppliers on receipt of invoices or netting statements. Payment terms are not delayed as a result of disputes as these are settled prior to due date
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