| 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 2018 - 31 Dec 2018 | 04 Feb 2019 | 34 | 65% | 29% | 6% | 36% |
| 01 Jan 2018 - 30 Jun 2018 | 31 Jul 2018 | 44 | 45% | 37% | 18% | 56% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days net 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
60
“Neptune agrees to the dispute resolutaion on a Contract basis however the standard practice is in the event of a Dispute, difference, controversery or claim between the Parties in relation to the Work or Contract, One party shall issue a Notice of the Dispute, the Dispute will initially by referred to Company/Contractor Representatives to discuss the Dispute and make all reasonable efforts to reach an agreement on the settlement, if no agreement after 7 days the Party may escalate to a person of appropriate seniorty by providing notice. Then again there is 7 days for the senior representatives to meet and aim of reaching an agreementy on the settlement. Should the step fail, the Dispute shall be referred and finally resolved by arbitration under the LCIA Rules”
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
NEPTUNE E&P UKCS LIMITED is an oil and gas exploration and production company based in the United Kingdom. The company is committed to sustainability and has implemented various programs to minimize its environmental impact and promote social responsibility.
Their sustainability program includes a strong focus on reducing greenhouse gas emissions, promoting energy efficiency, and implementing responsible waste management practices. They also prioritize the protection of biodiversity and work closely with local communities to ensure their operations are sustainable and beneficial to all stakeholders.
NEPTUNE E&P UKCS LIMITED offers a range of products and services related to oil and gas exploration and production. This includes offshore and onshore exploration, drilling, and production services. They also have a strong track record in developing new technologies and techniques to improve efficiency and reduce environmental impact.
The company is led by a team of experienced and knowledgeable individuals, including Managing Director Jim House and Chief Financial Officer Richard Taylor. They are supported by a dedicated team of professionals who are committed to delivering high-quality and sustainable solutions.
For more information on NEPTUNE E&P UKCS LIMITED and their services, visit their website at www.neptuneeplimited.com. Their registered office address is 1 Kingdom Street, London, W2 6BD, United Kingdom.