PREMIER OIL E&P UK ENERGY TRADING LIMITED
Company number: 04103928
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
27 July 2020
Approved by:
Richard Rose
Payment statistics
Average time taken to pay invoices: 6 days
Invoices paid:
- within 30 days: 100%
Late and disputed:
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
20 days
Standard payment terms
Standard payment terms are 20th calendar day of month, following month of supply.
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
20 days
No further comment provided
Any other information about payment terms
Invoices are prepared internally and passed for prompt payment processing.
Dispute resolution process
Invoices are self-billed and prepared on production data mutually agreed for billing purposes. Any disputes should be addressed either ahead of invoice/payment, or alternatively production data may be mutually reconciled, with any payment or refund processed annually.
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: OGUK Supply Chain Code of Conduct
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