SAINSBURY'S BANK PLC
Company number: 03279730
Reporting period:
1 September 2018 to 28 February 2019
Report filed on:
28 March 2019
Approved by:
Peter Griffiths
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 27%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
90 days
Standard payment terms
30 days from Invoice Interface Date
Were there any changes to the standard payment terms in the reporting period?
During reporting period, in order to align with JS, Bank is introducing 60-day payment terms as standard for new suppliers.
Were suppliers notified or consulted about these changes before they were made?
Supplier would be notified in writing, should there be any changesd to the standard
Maximum contractual payment period agreed
90 days
90 Days after creation invoice upload date
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes are resolved by negotiation involving the relevant parties
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.
Yes
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