Industry ranking
Score of 82.5/100 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 | 24 Dec 2024 | 42 | 89% | 10% | 1% | 11% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 36 | 57% | 37% | 6% | 45% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days from receipt of invoice
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
We would enter dialogue with the vendor to remedy any dispute & look to resolve as quickly as possible, generally under a week. The relevant "Contract Owner" would be consulted to ensure we understand the issue & then we would work with the vendor to fix. Common issues would be purchase order uplifts where an invoice has been received but we do have enough funds on the purchase order, we would work with the requisitioner/contract owner to verify the costs are correct & if they are, issue a purchase order uplift to enable us to pay the 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
ITHACA (NE) E&P LIMITED is an active private limited company, incorporated on 5 March 1980, based in the London region. Registered business activity: Extraction of crude petroleum; Extraction of natural gas.
From Companies House records.