ORMONDE ENERGY LIMITED

Company number: 04874027

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 9 August 2018

and approved by Christiam Sommer

Payment statistics

Average time taken to pay invoices: 7 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: 20%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

90 days

Standard payment terms

Standard Payment Terms are 60 days from the issue of the invoice. Exception is reviewed depending on the particular scope of the Contract.

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

Standard payment terms have increased from 30 days to 60 days and suppliers have been notified at the start of any new process.

Were suppliers notified or consulted about these changes before they were made?

In writing

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

payment related disputes are handled by the respective contract manager or if such a role does not exist for the given activity, the project manager.

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, 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