GOV.UK
BP OIL UK LIMITED
Company number: 00446915
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 28 January 2021
and approved by Peter Mather
Payment statistics
Average time taken to pay invoices: 15 days
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 6%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 2 %
Payment terms
Shortest standard payment period
6 days
Longest standard payment period
60 days
Standard payment terms
The 6 days payment period referred to under “Shortest standard payment
period” above is based on the supply standard of 6 days after month of
lifting – if product was lifted on the last day of the month then payment
would be due 6 days later.
Payment statistics disclosed in this report can be affected by a number of
different factors including payments made to other BP group companies
which are included within the data disclosed. Invoices are often reported
as due but not paid within agreed terms because BACS transfers to
suppliers arrive in the supplier’s bank account two business days after
leaving the company’s bank account and the company typically initiates
payments in batches, on a daily basis; where this is the case payments
will normally be received by the supplier within a few days of the due
date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
The Company will notify suppliers of any invoice disputes. The Company
and the supplier will endeavour to resolve all disputes by agreement of
the parties. Once resolved, payment will be made in accordance with
agreed terms. If these discussions are unsuccessful, then the dispute will be resolved by reference to arbitration or courts (as 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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.Yes – Prompt Payment Code
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.
Yes
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