| 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 2021 - 31 Dec 2021 | 28 Jan 2022 | 26 | 66% | 23% | 11% | 23% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 18 | 73% | 17% | 10% | 26% |
| 01 Jan 2019 - 30 Jun 2019 | 03 Dec 2019 | 52 | 23% | 49% | 28% | 87% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 46 | 27% | 55% | 18% | 49% |
| 01 Jan 2018 - 30 Jun 2018 | 24 Jul 2018 | 44 | 22% | 61% | 17% | 62% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The business uses a large number of suppliers on different payment terms. There is no real standard payment term and terms are negotiated individually per supplier. The numbers above therefore represent the full range of payment terms offered from different suppliers. In the reporting period the weighted average payment terms (based on value of invoices paid) was 46 days, and the average terms based on number of payments was 20 days. The most common payment terms entered into during the reporting period was prompt payment.
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
82
The company is committed to dealing with its suppliers in a fair, honest and open manner. In the first instance any disputes received will be directed to our purchase ledger team and then escalated to the Finance Manager if the dispute is not satisfactorily resolved. The company aims to resolve any dispute which may arise in a timely manner.
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 Solvents Ethanol Limited is a UK-registered company forming part of the INEOS group, a global manufacturer of petrochemicals, speciality chemicals and oil products. Its registered business classification covers the manufacture of other inorganic basic chemicals. The wider INEOS group operates around 148 sites across 26 countries, comprising numerous individual businesses making raw chemical ingredients used in medicines, packaging, construction, textiles, automotive components and other everyday products. No specific description of this entity's own site operations or products is available beyond its registration details, so its role should be understood as a subsidiary within the broader INEOS manufacturing group rather than as an independent operating business with its own described activities.
Generated from the company's website and Companies House records. Sources: ineos.com · ineos.com