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OCEAN PARTNERS UK LIMITED

Company number: 05171451

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 1 August 2018

and approved by Neil Poulter

Payment statistics

Average time taken to pay invoices: 5 days

Invoices paid:

• within 30 days: 92%
• in 31 to 60 days: 5%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 8 %

Payment terms

Standard payment period for qualifying contracts

0 days

Standard payment terms

Ocean Partners does not have standard payment terms that it imposes on its suppliers. All payment terms are either mutually agreed during the negotiation of commodity purchase contracts or per the suppliers standard payment terms for all other expenses.

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

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

Initial resolution would be by direct discussion with the supplier and if there was still no agreement then it would be carried out in accordance with the dispute resolution terms within the contract or the suppliers standard terms and conditions.

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