Score of 99.4/100 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 Jul 2022 - 31 Dec 2022 | 05 Jan 2023 | 11 | 99% | 1% | 0% | 1% |
| 01 Jan 2022 - 30 Jun 2022 | 01 Aug 2022 | 12 | 99% | 1% | 0% | 1% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 15 | 95% | 5% | 0% | 6% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 10 | 99% | 1% | 0% | 3% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 30 days after date 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
Hurricane will notify suppliers of any disputes, and will endeavour to resolve any disputes with agreement of all parties. Disputes should be in the first instance notified to accounts.payable@hurricaneenergy.com. Once resolved, payment will be made in accordance with agreed terms. If these discussions are unsuccessful, then the dispute will be resolved by reference to further proceedings, which may include arbitration or courts.
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
This company, registered as Hurricane Energy Plc, now trades under the name Prax Upstream Limited, according to Companies House records. Together with its subsidiaries, it explores, appraises and develops oil from fractured basement rock reservoirs offshore in the West of Shetland area of the UK Continental Shelf. Its portfolio includes producing fields such as Clair, Foinaven and Schiehallion, and licences covering the Rona Ridge basement structure, with assets including Lancaster, Lincoln, Halifax and Warwick. The company was previously known as Hurricane Exploration plc before adopting the Hurricane Energy name in 2013, and was incorporated in 2004. Its registered office is in Weybridge, Surrey, though operations are focused on UK continental shelf oil exploration and production.
Generated from the company's website and Companies House records. Sources: northdata.com · annualreports.com