BP P.L.C.

Company number: 00102498

Reporting period:
1 July 2019 to 31 December 2019

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This report was filed on 30 January 2020

and approved by Brian Gilvary

Payment statistics

Average time taken to pay invoices: 24 days

Invoices paid:

• within 30 days: 79%
• in 31 to 60 days: 17%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 17%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

30

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

Payment statistics disclosed in this report can be affected by a number of different factors including payments made to other BP group companies which are included within the data disclosed. Invoices are often reported as due but not paid within agreed terms because contract payments due on weekends or bank holidays are typically paid on the following business day and the company typically initiates payments in batches, on a twice weekly basis; where this is the case payments will normally be received by the supplier within a few days of the due date. These factors particularly affect this company due to the small number of invoices it has during the reporting period (48 invoices in the reporting period).

Dispute resolution process

The Company will notify suppliers of any invoice disputes. The Company and the supplier will endeavour to resolve all disputes by agreement of the parties. Once resolved, payment will be made in accordance with agreed terms. If these discussions are unsuccessful, then the dispute will be resolved by reference to arbitration or courts (as specified in the contract).

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.

Yes, this business has signed up to: The Prompt Payment Code

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