PETROCHINA INTERNATIONAL (LONDON) CO., LIMITED
Company number: 04410974
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Luo Yizhou
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 100%
Late and disputed:
Payment terms
Shortest standard payment periods
10 days
Longest standard payment period
30 days
Standard payment terms
The company trades Natural Gas and LNG. As part of the EFET payment terms, the OTC Physical Gas Invoices are settled 20 business days after delivery. As part of the MSA payment terms, the OTC Physical LNG Invoices vary dependent on the individual contracts, but typically 10 business days after delivery. The Secondary Trading costs are usually paid 10 days from invoice date. The company also settles non-trade invoices, which is usually 30 days from invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
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
No further comment provided
Dispute resolution process
All disputes in relation to Trading Invoices are dealt with through our Settlements department. All disputes in relation to Non-Trading Invoices are dealt with through our Accounts Payable department.
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 Fair 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