GULF INTERNATIONAL BANK (UK) LIMITED
Company number: 01223938
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
23 July 2026
Approved by:
Ralph Mcgregor CAMPBELL
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 24 days
Total value paid:
- within 30 days: £7,564,646 (67%)
- in 31 to 60 days: £3,265,259 (29%)
- in 61 days or more: £518,588 (5%)
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 29%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £4,416,124
- payments due in the reporting period which have not been paid within the agreed period: 28%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
GIB UK's standard payment terms are 30 days from the invoice date, subject to the invoice being approved in accordance with the Bank's procurement and payment approval processes. Payment terms may vary where different terms have been contractually agreed with a supplier.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputed payments are managed on a case-by-case basis. Where an invoice is disputed, payment is put on hold while the issue is investigated with the supplier and the relevant business stakeholders. The aim is to resolve disputes promptly through communication and supporting documentation. Once the dispute is resolved and the invoice is confirmed as valid, payment is processed in accordance with the agreed payment terms.
In addition, a weekly Accounts Payable metrics report is circulated, providing updates on outstanding invoices. The Accounts Payable representative highlights any disputed or overdue items and provides status updates to the Senior Finance manager to support timely resolution and oversight.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No