The data for ARGENT OILS (UK) LIMITED shows a consistent decrease in the average time to pay invoices over the three periods provided. In the first period of 2018-01-01 to 2018-06-30, the average time to pay was 28 days, which decreased to 23 days in the second period of 2018-07-01 to 2018-12-31. The third period of 2019-07-01 to 2019-12-31 does not have any data, but the trend suggests that the average time to pay may have continued to decrease. This trend indicates that the company is improving their payment efficiency and paying invoices earlier.
The volatility of the data for ARGENT OILS (UK) LIMITED is relatively low, as the average time to pay only fluctuated by 5 days between the first and second periods. This suggests that the company has a consistent payment process in place and is not subject to major changes in their payment practices.
Based on the data provided, ARGENT OILS (UK) LIMITED has shown a consistent improvement in their payment efficiency over the past three periods. The average time to pay invoices has decreased from 28 days to 23 days, indicating that the company is paying invoices earlier. Additionally, the percentage of invoices paid within 30 days has also increased from 67% to 85%. However, there is not enough data to determine any changes in the third period.
| 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 | |||||
| 01 Jan 2020 - 30 Jun 2020 | 23 Sept 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 23 Sept 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 05 Aug 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 29 Aug 2019 | 23 | 85% | 13% | 2% | 15% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 28 | 67% | 23% | 10% | 10% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days from 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
60
Any invoicing issue will be dealt with by the AP team on a timely basis. Where resolution is not achieved this may be referred to our solicitors.
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
ARGENT OILS (UK) LIMITED is a active — active proposal to strike off private limited company, incorporated on 31 December 1963, based in the Scotland region. Registered business activity: Collection of non-hazardous waste.
From Companies House records.