GOV.UK
GOLDMAN SACHS INTERNATIONAL BANK
Company number: 01122503
Reporting period:
1 December 2018
to 31 May 2019
This report was filed on 27 June 2019
and approved by Dermot McDonogh
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 67%
- in 31 to 60 days: 22%
- in 61 days or more: 11%
Invoices due but not paid within agreed terms: 22 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms vary according to the nature of the goods/services that we require but, in general, our standard payment terms for vendors are 30 days from the date of receipt of a valid invoice. There are two notable exceptions to this: (i) for technology vendors, our standard payments terms are 45 days from the date of receipt of a valid invoice; and (ii) for external law firms, we do not specify a contractual payment period, but generally commit to paying law firm invoices within 60 days from the date of receipt of a valid invoice. To the extent that law firm invoices form part of the “percentage of invoices due but not paid within agreed contractual terms” statistic in this report, we have worked on this basis.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
If at any time any question, dispute or difference arises between Goldman Sachs and a vendor, such question, dispute or difference should be raised by the vendor to its Goldman Sachs’ contact managing their relationship, who may escalate if necessary. Formal dispute processes are detailed in contracts with vendors.
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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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