Score of 93.3/100 qualifies for PaymentCheck Certification
| 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 2023 - 31 Dec 2023 | 25 Jan 2024 | 18 | 85% | 15% | 0% | 15% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 23 | 100% | 0% | 0% | 0% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 23 | 83% | 7% | 10% | 17% |
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 25 | 100% | 0% | 0% | 12% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 26 | 86% | 14% | 0% | 14% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 8 | 93% | 0% | 7% | 7% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 11 | 100% | 0% | 0% | 0% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 12 | 100% | 0% | 0% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 27 Jan 2020 | 19 | 100% | 0% | 0% | 0% |
| 01 Jan 2019 - 30 Jun 2019 | 25 Jul 2019 | 20 | 92% | 8% | 0% | 8% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 16 | 100% | 0% | 0% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 28 Jul 2018 | 19 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
EQUION shall pay properly submitted invoices within thirty (30) days following the date they are received and stamped
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
If EQUION objects the invoice, CONTRACTOR shall be informed within a period of five (5) days following receipt of the invoice, specifying the reason for the objection. CONTRACTOR shall revise the invoice and submit a new corrected invoice, or shall submit an invoice for the non-disputed items and a separate invoice containing the disputed items. EQUION shall approve and pay the invoices within a period of thirty (30) days following receipt and seal. Disputed invoices shall be paid within a period of thirty (30) days following submission of the new invoice.
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
Equion Energia Limited is a UK-registered company, previously named BP Exploration Company (Colombia) Limited until it was renamed in 2011. Its registered nature of business covers extraction of crude petroleum and extraction of natural gas. Companies House filings show it prepares group accounts and has a person with significant control, Repsol S.A. Its directors and officers are based across Colombia, the United States, Peru and the UK, indicating the entity forms part of an international corporate structure engaged in oil and gas extraction activity, most likely centred on Colombian operations, rather than being a UK operating business in its own right.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk