GOV.UK
DANA PETROLEUM (E&P) LIMITED
Company number: 02294746
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 28 July 2022
and approved by Ewan Wildgoose
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 92%
- in 31 to 60 days: 7%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Shortest standard payment period
10 days
Longest standard payment period
30 days
Standard payment terms
Dana Petroleum E&P Limited Standard Payment Terms are settlement 30 days from date of receipt of a correctly prepared and adequately supported invoice.
Were there any changes to the standard payment terms in the reporting period?
Yes – Where specifically negotiated and agreed as part of upfront contract negotiations.
Were suppliers notified or consulted about these changes before they were made?
Yes – Where specifically negotiated and agreed as part of upfront contract negotiations.
Maximum contractual payment period agreed
30 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
General contract extract:
If the COMPANY disputes any items on any invoice in whole or in part of if the invoice is prepared or submitted incorrectly in any respect, the COMPANY shall notify the CONTRACTOR of the reasons and request the CONTRACTOR to issue a credit not for the unaccepted part or whole of the invoice as applicable. Upon receipt of such credit note the COMPANY shall be obliged to pay the undisputed part of a disputed invoice.
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 – Supply Chain Code of Practice the principles
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