OPHIR ENERGY LIMITED
Company number: 05047425
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
18 January 2021
Approved by:
Krista
Payment statistics
Average time taken to pay invoices: 15 days
Invoices paid:
- within 30 days: 92%
- in 31 to 60 days: 7%
- in 61 days or more: 1%
Late and disputed:
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
30 days
Standard payment terms
Invoices are payable within 30 days from receipt of a correct invoice referencing a valid purchase order which includes a purchase order number issued by the Company. If amendments to the invoice are required, the 30-day payment period will commence from the date of receipt of the corrected invoice. The longest standard payment period is 30 days. The maximum contractual payment period agreed during the reporting period was 30 days. If the Company disputes an item invoiced, the Company will, within 30 days from receipt of the invoice, notify the supplier of the item in dispute, specifying the reason therefore. The payment of any undisputed balance will be effected within the standard 30-day payment period. The Company will endeavour to settle any dispute with the supplier at the earliest possible date and any agreed adjustment will be made as promptly as possible following the date of such settlement. If the Company and supplier are unable to resolve the matter within 30 days, the dispute will be resolved by reference to arbitration (or courts if specified in the contract). There have been no variations to the Company’s standard payment terms in the reporting period.
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If the Company disputes an item invoiced, the Company will, within 30 days from receipt of the invoice, notify the supplier of the item in dispute, specifying the reason therefore. The payment of any undisputed balance will be effected within the standard 30-day payment period. The Company will endeavour to settle any dispute with the supplier at the earliest possible date and any agreed adjustment will be made as promptly as possible following the date of such settlement. If the Company and supplier are unable to resolve the matter within 30 days, the dispute will be resolved by reference to arbitration (or courts if specified in the contract).
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.
No, this business has not signed up to a code of conduct or standards on payment practices.
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