Score of 91.45/100 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 2020 - 31 Dec 2020 | 28 Jan 2021 | 22 | 82% | 18% | 0% | 1% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 20 | 89% | 10% | 1% | 2% |
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2019 | 19 | 88% | 11% | 0% | 3% |
| 01 Jul 2018 - 31 Dec 2018 | 24 Jan 2019 | 23 | 87% | 13% | 0% | 2% |
| 01 Jan 2018 - 30 Jun 2018 | 13 Jul 2018 | 23 | 83% | 17% | 0% | 4% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms for goods and services is 30 days. For certain Joint Venture billings, the standard contractual terms are 10 days
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
Disputes are resolved through a process involving the requestor of goods and services and accounts payable. The mailbox dedicated for accounts payable is UK_InvoicesLDMEP@mitsui.com
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
Mitsui E&P UK Limited is a UK-registered company with its registered office in London, incorporated in 2011. Its stated business activities, according to Companies House records, are the extraction of crude petroleum and the extraction of natural gas. This places the company within the oil and gas exploration and production sector. It operates as part of the wider Mitsui group, a Japanese trading and investment conglomerate whose global operations span energy, minerals, chemicals, infrastructure and other sectors. The UK entity's own role is that of an exploration and production subsidiary within this broader group structure, rather than a standalone operating business engaged in the group's wider trading activities.
Generated from the company's website and Companies House records. Sources: mitsui.com