| 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 2020 - 31 Dec 2020 | 29 Jan 2021 | 52 | 28% | 39% | 33% | 22% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 59 | 24% | 37% | 38% | 24% |
| 01 Jul 2019 - 31 Dec 2019 | 23 Jan 2020 | 56 | 24% | 38% | 38% | 22% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 57 | 26% | 34% | 40% | 30% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 48 | 30% | 36% | 34% | 2% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms are 60 days end of month (31 days + 60 = 91 days to pay) and suppliers on immediate payment terms (0 days to pay)
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
91
Complaints are dealt with in Accounts Payable first and then discussed with the relevant dept. or supplier. The queries are dealt with immediately and then the relevant parties contacted
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
INEOS Nitriles (UK) Limited is registered at Seal Sands, Middlesbrough, and its listed activity is the manufacture of other chemical products not elsewhere classified. It forms part of INEOS Nitriles, a business within the wider INEOS Group, which describes itself as the world's largest producer of acrylonitrile and acetonitrile. These chemicals are intermediates used in the production of items such as plastics, fibres and other chemical derivatives. As a UK operating entity within the INEOS Group's federated structure, the company sits within a global petrochemicals business comprising numerous individual businesses and manufacturing sites, though group-wide figures and activities relate to INEOS as a whole rather than to this entity alone.
Generated from the company's website and Companies House records. Sources: ineos.com · ineos.com