Score of 95.8/100 qualifies for PaymentCheck Certification
The trend for NEO ENERGY (SNS) LIMITED shows a consistent decrease in the average time taken to pay invoices, from 27 days in the first period to 22 days in the third period. This indicates that the company has improved their payment process and is paying invoices in a more timely manner.
The volatility of the average time taken to pay invoices for NEO ENERGY (SNS) LIMITED is low, as there is a steady decrease in the average time over the three periods. This suggests that the company has a stable payment process and is maintaining consistency in paying invoices within a reasonable timeframe.
Between 2023-01-01 and 2024-06-30, NEO ENERGY (SNS) LIMITED has shown a consistent improvement in their payment process. The average time taken to pay invoices has decreased by 5 days, from 27 days to 22 days. The company has also been consistently paying all invoices within 30 days, indicating a strong commitment to timely payments.
| 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 Jan 2024 - 30 Jun 2024 | 23 Jul 2024 | 25 | 100% | 0% | 0% | 0% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 24 | 100% | 0% | 0% | 0% |
| 01 Jan 2023 - 30 Jun 2023 | 21 Jul 2023 | 27 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Our standard payment terms are 30 days from the receipt of a valid invoice to our accounts payable email inbox. Or through our Ariba portal for PO related invoices.
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
30
NEO Energy seeks to advise suppliers promptly of any disputes or reasons why an invoice will not be paid in accordance with the agreed terms. Once resolved, payment is made in accordance with the terms of the contract/PO. NEO Energy provides a centralised point of contact for suppliers' enquiries via its dedicated email Inbox where the team supports any questions related to, but not limited to, payment due dates, incorrect invoice submission, wrong or missing PO detail etc.
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
Neo Energy (SNS) Limited is a Scottish-registered company based in Aberdeen, incorporated in 2005 and currently active. Its registered nature of business is classified under support activities for petroleum and natural gas extraction, placing it within the oil and gas industry. No further detail on specific services, contracts or operational scope is available from the evidence supplied. The company's registered office is located in Aberdeen, a hub for UK oil and gas sector operations, consistent with its stated business classification.
Generated from the company's website and Companies House records.