APACHE NORTH SEA PRODUCTION LIMITED
Company number: 07720972
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 13 January 2021
and approved by Susan Greig
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 14%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 19 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Apache’s Master Service Agreements and Purchase Order Terms & Conditions include standard payment terms which are typically 30 days from invoice receipt. Exceptions to the standard 30 days may be made for specific contracts or by arrangement.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
Any other information about payment terms
N/A
Dispute resolution process
Apache endeavours to resolve disputes as soon as possible, prior to payment being made. In the event that our Accounts Payable team are unable to resolve any disputes, they will be escalated to the Apache Contract Sponsor in the first instance, who shall discuss the matter in dispute with the supplier’s Contract Manager and make all reasonable efforts to reach an agreement.
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.Yes – Oil and Gas Authority (OGA Supply Chain Code of Practice (SCCoP).
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.
Yes
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