Industry ranking
Score of 85.6/100 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 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 25 | 84% | 14% | 2% | 19% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 25 | 84% | 14% | 2% | 20% |
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 40 | 75% | 15% | 10% | 28% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 27 | 80% | 14% | 6% | 22% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 46 | 61% | 26% | 13% | 41% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 39 | 55% | 26% | 19% | 47% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 50 | 54% | 25% | 21% | 58% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 73 | 28% | 43% | 29% | 65% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 92 | 27% | 40% | 32% | 63% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 66 | 20% | 45% | 35% | 71% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 92 | 14% | 32% | 54% | 73% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 93 | 14% | 38% | 47% | 73% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 131 | 16% | 26% | 58% | 82% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment terms are agreed with suppliers and subcontractors as part of the contract arrangements and invoices must show the order number. Terms vary from 21 days where payment is made once the invoice is processed to 45 days from date of invoice. The most frequently used terms for suppliers in the reporting period are 30 days from the date of invoice with payment for these suppliers generally made after receipt of a statement from the supplier and a reconciliation of the account.
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
45
Costain Oil Gas & Process Limited actively seeks to resolve disputes by discussing them with the relevant supplier(s), typically involving members of the relevant project’s supply chain, procurement or commercial teams and the relevant accounts or accounts payable team. Where necessary members of management will be involved. Where it is not possible to reach agreement, usually on entitlement in relation to subcontracts, a number of potential dispute resolution methods may be used, most commonly, mediation or adjudication. If it remains impossible to reach agreement, the items may go to litigation.
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
Costain Oil, Gas & Process Limited is a UK-registered company, part of the Costain group, previously known as Land & Marine Engineering Limited. Its registered business activity is classified as construction of other civil engineering projects, and it is tagged to the oil and gas industry. The available evidence consists mainly of Companies House filing records, showing officer appointments, registered office details and company history, rather than a description of specific projects or services delivered. Based on its SIC classification and industry tag, the company operates within civil engineering works connected to the oil and gas sector, likely undertaking construction or process-related engineering projects for that industry, though further detail on its actual operations is not available from the supplied evidence.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk