UNIPEC U.K. CO. LIMITED
Company number: 03138679
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Gang Chen
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 7%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 11%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
30 days
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Unipec U.K. Co. Ltd (“UUK”) has an in-house legal department and employees will pass any details of actual or potential disputes to the department which is on hand to assist with the resolution of all such disputes.
The legal department, with the assistance of the relevant business contact, will first seek to resolve the dispute through commercial negotiation within one week. Where the supplier remains dissatisfied with the solutions proposed it will be open to them to commence legal proceedings against UUK and a decision will then be taken in concert with management as to ultimately dispute the requested payment or pay in full. Legal advice may be taken by the in-house team depending on, for example, whether proceedings are commenced in the U.K. or in a foreign jurisdiction.
Undisputed invoices will be paid in the usual way.
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