Castrol Limited pays suppliers in 28 days on average

Standard payment terms

Standard contractual terms for the payment to suppliers provides specified dates as set out in the relevant contract and so the shortest and longest standard payment periods are indicated as one day. Payment terms in contracts that do not follow this standard form may be for longer periods.

Dispute resolution

The Company will notify suppliers of any invoice disputes. The Company and the supplier will endeavour to resolve all disputes by agreement of the parties. Once resolved payment will be made in accordance with agreed terms. If these discussions are unsuccessful then the dispute will be resolved by reference to arbitration or courts (as specified in the contract).

Other information

Payment statistics disclosed in this report can be affected by a number of different factors including payments made to other BP group companies which are included within the data disclosed. Invoices are often reported as due but not paid within agreed terms because BACS transfers to suppliers arrive in the supplier’s bank account two business days after leaving the company’s bank account contract payments due on weekends or bank holidays are typically paid on the following business day and the company typically initiates payments in batches on a daily basis; where this is the case payments will normally be received by the supplier within a few days of the due date.