EUROCLEAR UK & IRELAND LIMITED
Company number: 02878738
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
31 July 2019
Approved by:
John Trundle
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 3%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 18%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
Under Euroclear's standard contractual terms we commit to the payment of all undisputed sums properly due to third party suppliers within 60 days of receipt of a valid invoice in central processing centre, accessed at supplierinvoicing@euroclear.com. A number of suppliers currently have standard terms that are 30 days. On average we take 26 days to pay third party suppliers.
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
n/a
Any other information about payment terms
n/a
Dispute resolution process
Euroclear UK&lreland Ltd will attempt to resolve in the first instance with negotiations between the authorised representatives of each of the parties. Both parties should, where possible, meet within five days of the dispute arising and should continue to perform their relevant obligations,whilst working together to resolve the dispute.
Further information on the Terms & Conditions including contact details for queries/complaints/disputes can be found at www.euroclear.com/suppliers.
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