BASELL UK HOLDINGS LIMITED
Company number: 03053549
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
30 July 2021
Approved by:
Hitesh Kalidas
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 100%
- in 31 to 60 days: 0%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 75%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms that the business offers is 60 days in line with fellow group companies.
Payments for this company are made by a fellow group company and then recharged back.
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
Owing to the nature of the company, the only qualifying contracts related to payment of professional fees that were due upon receipt. We normally process invoices within 30 days. As there are no other type of invoices for this company, these are mostly classed as 'not within agreed terms'
Any other information about payment terms
No further comment provided
Dispute resolution process
LYB’s central Accounts Payable function is responsible for payment of invoices. All invoices are only processed for payment once there is clearance/approval in our internal systems based on delegation of authority. Common dispute items such as incorrect company name, error in amounts etc can be directly resolved by the Accounts Payable function. For others, the relevant department is involved to address the issues directly with the vendor. The latter are handled on case by case basis.
The Purchase Orders are governed by English Law and the parties involved agree to submit to the jurisdiction of the English Courts.
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