| 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 | 25 | 84% | 10% | 6% | 16% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 46 | 78% | 10% | 12% | 22% |
| 01 Jan 2018 - 30 Jun 2018 | 01 Aug 2018 | 5 | 92% | 5% | 3% | 8% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Ocean Partners does not have standard payment terms that it imposes on its suppliers. All payment terms are either mutually agreed during the negotiation of commodity purchase contracts or per the suppliers standard payment terms for all other expenses.
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
Initial resolution would be by direct discussion with the supplier and if there was still no agreement then it would be carried out in accordance with the dispute resolution terms within the contract or the suppliers standard terms and conditions.
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
Ocean Partners UK Limited is the UK office of Ocean Partners, a global commodity trading group operating from Maidenhead. The wider group, which traces its origins to a 2004 management buy-out of Pechiney's Ore & Concentrate division, identifies, analyses and manages market opportunities for the purchase, sale and tolling of base, precious, minor and speciality metal concentrates, by-products and residues. Group services also include concentrate blending and warehousing, agency support for miners and smelters, and structured or acquisition finance. The group now employs over 140 people across offices in the UK, USA, Mexico, Peru and Chile. This UK entity is registered under SIC code 46720, wholesale of metals and metal ores, reflecting its role within that international trading network.
Generated from the company's website and Companies House records. Sources: oceanpartners.com · oceanpartners.com