How long does South Hook LNG Terminal Company Ltd. take to pay its suppliers?

Standard payment terms

Standard payment terms are 30 days from the receipt of a valid VAT invoice from the supplier, provided that there is no dispute over such invoice. Save for limited exceptions, invoices must state the relevant purchase order number, the Supplier’s full name, registration details, bank account details along with wire transfer instructions, a description of the services or goods supplied, and shall provide such evidence as may be required to enable the South Hook to approve payment of such invoice (e.g. timesheets). South Hook may set off amounts owing to it from the supplier where it has the right to do so. In the case of a disputed invoice, payment will not be made unless and until such dispute has been resolved to South Hook’s satisfaction. Any undisputed invoice that remains un

Dispute resolution

South Hook aims to settle any disputes amicably to the extent possible and without detriment to either company. In instances where an invoice includes an element of undisputed charges, South Hook works with the Supplier to agree partial payment of the invoice for these amounts. In such instances, the Supplier shall submit a full credit note for the disputed invoice and shall re-issue a new invoice setting out only the part of the original invoice that is undisputed. The following steps are taken in the event of a dispute: • The nominated South Hook Contract Manager will inform Procurement and Finance Departments immediately to place the invoice on hold. • Procurement will validate the cause of dispute and advise the Contract Manager on an appropriate course of action. • Finance will