GOV.UK
ESSAR OIL (UK) LIMITED
Company number: 07071400
Reporting period:
1 April 2020
to 30 September 2020
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 30 April 2021
and approved by S. THANGAPANDIAN
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 60%
- in 31 to 60 days: 36%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 11 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payment request is 60 days from receipt of correctly presented invoice. The actual terms vary, with the typical payment term being 30 days.
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
Most of the company's contracts with suppliers will set out a procedure which has been agreed between the parties to be followed for dispute resolution and the company will comply with that procedure.
Any complaints made or concerns raised are considered by the PSM department.
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