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CENTRICA LNG COMPANY LIMITED

Company number: 06366483

Reporting period:
1 July 2020 to 31 December 2020

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This information is as reported by the business, and responses are in their own words.

This report was filed on 28 January 2021

and approved by Stefka Gerova

Payment statistics

Average time taken to pay invoices: 10 days

Invoices paid:

• within 30 days: 96%
• in 31 to 60 days: 4%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 1 %

Payment terms

Standard payment period for qualifying contracts

10 days

Standard payment terms

Centrica LNG Company Ltd does not have standard payment terms. The most frequently used payment terms are 10 business days after the date or receipt of invoice and relate to settlement of transactions for petroleum and natural gas mining

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

45 days

The maximum contractual payment terms is 45 days. This varies according to product and supplier. Terms are mutually agreed at the contract negotiation or on boarding stage.

Any other information about payment terms

To prevent a delay in invoice processing, invoices must be clearly legible, comply with HMRC regulations and should include supplier details, purchase order number (if applicable) invoice number, invoice date and payment instructions, as well as the Centrica point of contact who requested the goods or services.

Dispute resolution process

Any disputes the suppliers should contact their specific contact within Accounts Payable Group. The Accounts Payable team will consider the complaint and respond accordingly.

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