SONATRACH GAS MARKETING UK LIMITED
Company number: 05646983
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
8 August 2022
Approved by:
Rachid Zerdani
Payment statistics
Average time taken to pay invoices: 17 days
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 7%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
56 days
Standard payment terms
• Business does not use standard terms;
• Most frequently used payment terms for qualifying contracts are:
- Upon receipt.
- Direct Debit for some recurring services, mostly payable in advance.
- Within 7, 10, 14, 16, 20 or 30 days after receipt of the invoice in line with payment terms of suppliers.
• Maximum payment terms are:
- The 25th day of the month immediately following the month in which the invoice was received. These terms could result in a
maximum term of 56 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
55 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
The most frequently “late payment” provision in qualifying contracts states:
Payment shall be made by the due date. If the Business disputes any part of an invoice the Business shall pay the amount not in
dispute on or before the due date and shall give notice of the amount in dispute and the reasons therefore to the other party. If a party
fails to pay to the other party by the due date any amount due, the other party may assess a late charge at rate permitted by the law.The party to whom the amount is due reserves the right to withhold services while there are any outstanding fees and/or
interest or the Business is in breach of the agreement.
No disputes have been recorded during the period.
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