| 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 2019 - 30 Jun 2019 | 30 Jul 2019 | 19 | 94% | 4% | 1% | 6% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment terms are agreed with suppliers as part of contract negotiations. The most commonly used terms are 30 days, but payment terms vary by commodity traded and geographical location and could be longer or shorter as mutually agreed. Once authorised, trade invoices are paid when contractually due through regular payment runs.
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
90
The process for resolution of disputes involves discussion with our commercial & legal teams to review facts and circumstances and recommend resolutions.
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
OMV Supply & Trading Limited is a UK-registered company forming part of the OMV group, the Austrian integrated energy and chemicals business involved in exploration, production, refining, trading and petrochemicals. Companies House records show its activities as wholesale and agency dealing in fuels, petroleum products, ores, metals and industrial chemicals, alongside general business support services. As the group's UK trading and supply entity, it handles the buying, selling and distribution of petroleum and related fuel products rather than owning production assets itself. The wider OMV group, of which this entity is a subsidiary, pursues goals including expanding renewable fuel production and reducing carbon emissions across its European and global operations.
Generated from the company's website and Companies House records. Sources: omv.com