BETA This is a new service – your feedback will help us to improve it.

KUWAIT PETROLEUM INTERNATIONAL AVIATION COMPANY (U.K.) LIMITED

Company number: 01744961

Reporting period:
1 April 2018 to 30 September 2018

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 29 October 2018

and approved by Peter Coules

Payment statistics

Average time taken to pay invoices: 20 days

Invoices paid:

• within 30 days: 87%
• in 31 to 60 days: 11%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 23 %

Payment terms

Shortest standard payment period

5 days

Longest standard payment period

37 days

Standard payment terms

Standard payment terms are based on Supplier invoice terms with the exception of immediate payment which are set to 14 days, this allows the process of invoice approval before payment to be maintained. There is a weekly payment run.

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

No

Maximum contractual payment period agreed

37 days

Any other information about payment terms

N/A

Dispute resolution process

Complaints or concerns are raised with the Purchase Ledger Team in the first instance who will refer to the relevant invoice approver. If the issue is not resolved it will be escalated to the Financial Controller and ultimately Finance Director for resolution.

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