Industry ranking
| 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 | 60 | 22% | 45% | 33% | 57% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 58 | 26% | 41% | 33% | 54% |
| 01 Jul 2023 - 31 Dec 2023 | 29 Jan 2024 | 59 | 26% | 40% | 34% | 49% |
| 01 Jan 2023 - 30 Jun 2023 | 26 Jul 2023 | 60 | 31% | 43% | 26% | 26% |
| 01 Jul 2022 - 31 Dec 2022 | 19 Jan 2023 | 62 | 30% | 38% | 32% | 28% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 63 | 23% | 41% | 36% | 38% |
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | 62 | 24% | 41% | 35% | 38% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 48 | 25% | 38% | 37% | 33% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 61 | 26% | 35% | 39% | 34% |
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.
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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?
❌
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 Thermoplastic Compounds Limited is a UK manufacturer registered under SIC code 20160, covering the manufacture of plastics in primary forms. The company has traded under several names since its 1971 incorporation: originally P.E.C. (Plastics) Limited, later Vita Thermoplastic Compounds Limited, and since 2013 under its current name. It is based in Warrington, Cheshire, and its filings indicate it forms part of a wider corporate structure, having previously been controlled by A. Schulman Inc. and subsequently by A. Schulman Gainsborough Ltd. The company's registered activity centres on producing thermoplastic compounds, which are supplied as raw material inputs for further manufacturing processes rather than as finished consumer goods.
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