PETROGAS GROUP UK LIMITED
Company number: 05952225
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
1 August 2018
Approved by:
John Diviney
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 40%
- in 31 to 60 days: 58%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 21%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
85 days
Standard payment terms
Utility - 14 days OH suppliers - 31 days Shop sale suppliers - 30-49 days Some of the suppliers are on Direct Debit
Were there any changes to the standard payment terms in the reporting period?
Suppliers moved from Direct Debit to EFT
Were suppliers notified or consulted about these changes before they were made?
We have sent email to supplier about our intention of moving them to EFT. We agreed a date with supplier and std payment terms From that date DD has been cancelled and supplier is moved to EFT payments.
Maximum contractual payment period agreed
85 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
For payment, the complaint is either considered by Area managers/AP manager and then getting in touch with supplier to resolve the issue. At the end the payment decision is made by head if Finance/Operations
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.
Yes
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.
Yes
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