| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2024 - 31 Dec 2024 | 31 Jan 2025 | 56 | 19% | 40% | 41% | 48% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 60 | 21% | 38% | 41% | 52% |
| 01 Jul 2023 - 31 Dec 2023 | 29 Jan 2024 | 78 | 23% | 39% | 38% | 49% |
| 01 Jan 2023 - 30 Jun 2023 | 26 Jul 2023 | 61 | 29% | 44% | 27% | 26% |
| 01 Jul 2022 - 31 Dec 2022 | 19 Jan 2023 | 67 | 27% | 39% | 34% | 28% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 60 | 27% | 40% | 33% | 30% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 60 | 26% | 42% | 32% | 28% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 44 | 36% | 36% | 28% | 25% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 49 | 45% | 26% | 29% | 27% |
| 01 Sept 2019 - 28 Feb 2020 | 06 Mar 2020 | 33 | 97% | 2% | 1% | 20% |
| 01 Mar 2019 - 31 Aug 2019 | 06 Sept 2019 | 35 | 51% | 34% | 15% | 12% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment terms are referred to in the conditions printed with all Purchase Orders and Outline Agreements known as the General Conditions of Purchase (GCP) which states “Payment shall be made within 60 days of the receipt of a properly compiled invoice unless otherwise agreed in writing with the Purchaser” Also referred to in Purchase Orders and Outline Agreements are the General Conditions of Contract (GCC), applicable to service contracts, which states “Basell will make a payment to the Contractor within 60 days of receipt of properly compiled invoice and following certification by Basell's Representative, such certification shall not unreasonably be withheld.” Below 60 days require special approval and is normally restricted to 30 days. On a few cases, the payment is due immediately.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
LyondellBasell's central Accounts Payable function is responsible for payment of invoices. All invoices are only processed for payment once there is clearance/approval in our internal systems based on delegation of authority. Common dispute items such as incorrect company name, error in amounts etc can be directly resolved by the Accounts Payable function. For others, the relevant department is involved to address the issues directly with the vendor. The latter are handled on case by case basis. The Purchase Orders are governed by English Law and the parties involved agree to submit to the jurisdiction of the English Courts.
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
A. Schulman Inc. Limited is a global supplier of high-performance plastic compounds, resins, and services. The company is committed to sustainability and has implemented various initiatives and programs to minimize its environmental impact.
Their sustainability program includes reducing waste and emissions, increasing energy efficiency, and promoting sustainable sourcing and production practices. They also have a robust recycling program for their products and packaging materials.
A. Schulman Inc. Limited offers a wide range of products and services, including engineered composites, color and additive masterbatches, and custom performance colors. These products are used in various industries such as automotive, packaging, consumer goods, and more.
The company is led by a team of experienced professionals, including Joseph M. Gingo as Chairman, Bernard Rzepka as President and CEO, and Gustavo Perez as Vice Chairman and Chief Operating Officer.
Their website address is www.aschulman.com, where customers can find more information about their products and services, sustainability efforts, and contact details. The registered office address is A. Schulman Inc. Limited, 38- 39 South Street, St. Neots, Cambridgeshire, PE19 2BH, United Kingdom.
In conclusion, A. Schulman Inc. Limited is a leading global supplier of high-performance plastic compounds and services, with a strong focus on sustainability. Their commitment to sustainable practices, wide range of products, and experienced leadership team make them a trusted and reliable partner for businesses around the world.
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