LYB TREASURY SERVICES LTD
Company Information
- Company Number
- 09805589
- Registered Address
- 1 Vine Street, London, United Kingdom, W1J 0AH
- Status
- Active
- Employee Count
- 0
- Turnover
- £0
- EBITDA
- -£8,000
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 2 October 2015
- Nature of Business
- 64999 - Financial intermediation not elsewhere classified
- Industries
- Coming Soon
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The trend for LYB TREASURY SERVICES LTD. shows a significant increase in the average time taken to pay invoices between 2018 and 2022. This trend is also reflected in the percentage of invoices paid within 30 days, which has steadily decreased over the same period. There was a sudden spike in the average time to pay and the percentage of invoices paid later than 60 days in 2018, which remained high until 2021 when it dropped to 0%. However, in 2022 there was a significant increase in the percentage of invoices paid later than 60 days, indicating a potential return to a slower payment trend.
Volatility Analysis
The data for LYB TREASURY SERVICES LTD. shows a high level of volatility in the average time to pay invoices. The average time to pay fluctuated between 17 days and 107 days over the past three years. This volatility is also evident in the percentage of invoices paid within 30 days and the percentage of invoices paid later than 60 days, which have both seen significant changes over the three-year period.
Summary Analysis
From 2018 to 2022, the average time taken for LYB TREASURY SERVICES LTD. to pay invoices increased by 28 days. This is a significant increase of 80%. The percentage of invoices paid within 30 days decreased from 67% to 50%, while the percentage of invoices paid later than 60 days increased from 0% to 66%. The company has consistently maintained a standard payment period of 60 days.
Performance Reports History
| 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 | 19 Jan 2023 | 63 | 0% | 34% | 66% | 100% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 0 | 0% | 0% | 0% | 0% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 0% | ||||
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 19 | 100% | 0% | 0% | 100% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 27 | 50% | 50% | 0% | 50% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 0 | 0% | 0% | 0% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 17 | 100% | 0% | 0% | 0% |
| 01 Jan 2019 - 30 Jun 2019 | 24 Jul 2019 | 0 | 0% | 0% | 0% | 0% |
| 01 Jul 2018 - 31 Dec 2018 | 22 Jan 2019 | 107 | 0% | 0% | 100% | 100% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 35 | 67% | 33% | 0% | 100% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Payment terms are referred to in the conditions printed with all Purchase Orders and Outline Agreements known as the General Conditions of Purchase (GCP) which states “Payment shall be made within 60 days of the receipt of a properly compiled invoice unless otherwise agreed in writing with the Purchaser”
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Dispute Resolution Process
LyondellBasell's central Accounts Payable function is responsible for payment of invoices. All invoices are only processed for payment once there is clearance/approval in our internal systems based on delegation of authority. Common dispute items such as incorrect company name, error in amounts etc can be directly resolved by the Accounts Payable function. For others, the relevant department is involved to address the issues directly with the vendor. The latter are handled on case by case basis. The Purchase Orders are governed by English Law and the parties involved agree to submit to the jurisdiction of the English Courts.
Other Payment Information
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
LYB Treasury Services Ltd. is a financial services company that offers a variety of services to help businesses manage their finances and investments. The company is committed to sustainability and has a strong focus on ethical and responsible practices.
Their sustainability program includes implementing environmentally friendly practices in their operations, promoting diversity and inclusion within the company, and supporting social and community initiatives.
The company's products and services include treasury management, cash management, risk management, and investment management. They also offer customized solutions to meet the specific needs of their clients.
Key people at LYB Treasury Services Ltd. include the CEO, who is responsible for overall strategic direction and operations, and a team of experienced financial experts who provide personalized support to clients.
The company's website address is www.lybtreasuryservices.com, where interested individuals can find more information about their products and services, as well as contact details.
LYB Treasury Services Ltd. is registered at 20 Fenchurch Street, London, EC3M 3AU, United Kingdom. This is their registered office address and is where all official correspondence should be sent.
