SERICA ENERGY (UK) LIMITED
Company number: 04073712
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
17 March 2023
Approved by:
Daniel Fewkes
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 42%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 45%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days from receipt of correctly prepared and adequately supported invoice/payment request.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
30 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
If the Company disputes any items on any invoice in whole or in part or if the invoice is prepared or submitted incorrectly in any respect, the Company shall notify the Contractor of the reasons and either a) seek supporting evidence to validate such claims to enable payment, or b) reject such invoice and ask for the undisputed sums to be reinvoiced and paid, while also opening dialogue on the disputed amounts. Any amounts disputed shall be managed by the Company Representative and Contractor Representative as supported by their respective businesses to resolve such claim in a timely manner. In the unlikely event disputes are not resolved by the Parties Representatives, a dispute resolution process is included in all Purchase Order and Contract Terms and Conditions subject to the risk profile of the order.
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.
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