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BP ENERGY EUROPE LIMITED

Company number: SC107896

Reporting period:
1 January 2018 to 30 June 2018

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

This report was filed on 27 July 2018

and approved by Robert Harrison

Payment statistics

Average time taken to pay invoices: 15 days

Invoices paid:

• within 30 days: 85%
• in 31 to 60 days: 0%
• in 61 days or more: 15%

Invoices due but not paid within agreed terms: 15 %

Payment terms

Shortest standard payment period

20 days

Longest standard payment period

51 days

Standard payment terms

Standard contractual terms for the payment to suppliers are the later of 20 days after the end of the month in which the delivery occurs or 10 days after receipt of invoice.

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

No

Maximum contractual payment period agreed

51 days

Any other information about payment terms

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 contract payments due on weekends or bank holidays are typically paid on the following business day and the company typically initiates payments in batches, on a twice weekly basis; where this is the case payments will normally be received by the supplier within a few days of the due date.

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.

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