CHEVRON INTERNATIONAL TANKSHIP LIMITED

Standard payment terms

Suppliers are paid within 60 days from receipt of a correctly prepared and adequately supported invoice, unless the transaction relates to an industry standard contract. In the Shipping industry freight is customarily paid promptly after discharge. Intercompany invoices meeting the minimum payable balance per company policy are settled on the 25th of the following month. Intercompany invoices not meeting the minimum payable balance per company policy are paid twice a year in March and September.

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

No information available

Any other information about payment terms

Freight is settled promptly after discharge which is the industry standard. Non- voyage services related invoices are settled in line with payment terms agreed as part of each individual contract.

Maximum contractual payment period agreed

60

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

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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.

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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.

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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?

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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available