GOV.UK
A. SCHULMAN GAINSBOROUGH LTD
Company number: 03261137
Reporting period:
1 July 2022
to 31 December 2022
This report was filed on 19 January 2023
and approved by Hitesh Kalidas
Payment statistics
Average time taken to pay invoices: 86 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 37%
- in 61 days or more: 24%
Invoices due but not paid within agreed terms: 35 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
90 days
Standard payment terms
Payment terms are referred to in the conditions printed with all Purchase Orders and Outline Agreements known as the General Conditions of Purchase (GCP) which states “Payment shall be made within 60 days of the receipt of a properly compiled invoice unless otherwise agreed in writing with the Purchaser”
Also referred to in Purchase Orders and Outline Agreements are the General Conditions of Contract (GCC), applicable to service contracts, which states “Basell will make a payment to the Contractor within 60 days of receipt of properly compiled invoice and following certification by Basell's Representative, such certification shall not unreasonably be withheld.”
Below 60 days require special approval and is normally restricted to 30 days. On a few cases, the payment is due immediately.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
90 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
LyondellBasell's central Accounts Payable function is responsible for payment of invoices. All invoices are only processed for payment once there is clearance/approval in our internal systems based on delegation of authority. Common dispute items such as incorrect company name, error in amounts etc can be directly resolved by the Accounts Payable function. For others, the relevant department is involved to address the issues directly with the vendor. The latter are handled on case by case basis.
The Purchase Orders are governed by English Law and the parties involved agree to submit to the jurisdiction of the English Courts.
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