Score of 93.4/100 qualifies for PaymentCheck Certification
VIVO ENERGY NAMIBIA LIMITED has consistently maintained an average time to pay of 30 days from 2017 to 2022. The percentage of invoices paid within 30 days has also remained high, ranging from 97% to 99%. This indicates a strong commitment to timely payments to suppliers.
The data for VIVO ENERGY NAMIBIA LIMITED shows very little volatility. The percentage of invoices paid within 30 days has fluctuated by only 1-2% over the past 6 years. This is a positive sign of stability and consistency in the company's payment practices.
| 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 2022 - 31 Dec 2022 | 18 Jan 2023 | 30 | 99% | 1% | 0% | 1% |
| 01 Jan 2022 - 30 Jun 2022 | 22 Aug 2022 | 30 | 99% | 1% | 0% | 1% |
| 01 Jul 2021 - 31 Dec 2021 | 04 Feb 2022 | 30 | 99% | 1% | 0% | 1% |
| 01 Jan 2021 - 30 Jun 2021 | 12 Aug 2021 | 30 | 99% | 1% | 0% | 1% |
| 01 Jul 2020 - 31 Dec 2020 | 20 Jan 2021 | 30 | 99% | 1% | 0% | 1% |
| 01 Jan 2020 - 30 Jun 2020 | 14 Jul 2020 | 30 | 98% | 2% | 0% | 2% |
| 01 Jul 2019 - 31 Dec 2019 | 06 Jan 2020 | 30 | 99% | 1% | 0% | 1% |
| 01 Jan 2019 - 30 Jun 2019 | 12 Jul 2019 | 30 | 99% | 1% | 0% | 1% |
| 01 Jan 2018 - 31 Dec 2018 | 10 Jan 2019 | 30 | 99% | 1% | 0% | 1% |
| 01 Jan 2018 - 30 Jun 2018 | 18 Jul 2018 | 30 | 97% | 3% | 0% | 3% |
| 01 Jan 2017 - 31 Dec 2017 | 31 Jan 2018 | 30 | 98% | 2% | 0% | 2% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Vivo Energy Namibia’s standard payment term is to make payment thirty (30) days after the receipt of a valid tax invoice. This standard payment is however not applied in some circumstances: • As per the Namibian legislation e.g.: - Taxes (Withholding, Employees & import VAT) are to be paid on the 20th of the following month - VAT is to be paid on the 25th of the following month - Road Fund Administration levies are to be paid on the 15th of the following month • As per the specific agreements with suppliers e.g.: - Some Hydrocarbon suppliers are paid the 10th of the following month of delivery - Civil works contractors might be paid in advance or immediately paid as per the progress of the work During the reporting period, the maximum payment period was to pay on the 30th of the following month.
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
45
Any claim or dispute is first acknowledged before assessment and formal feedback. When enough evidences of services / works provided are in place, the related invoice is immediately settled
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
VIVO ENERGY NAMIBIA LIMITED is an active private limited company, incorporated on 29 May 1975, based in the London region. Registered business activity: Wholesale of other fuels and related products.
From Companies House records.