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STANDARD LIFE INVESTMENTS (CORPORATE FUNDS) LIMITED

Company number: SC111488

Reporting period:
1 July 2019 to 31 December 2019


This information is as reported by the business, and responses are in their own words.

This report was filed on 29 January 2020

and approved by Neil Machray

Payment statistics

Average time taken to pay invoices: 18 days

Invoices paid:

  • within 30 days: 100%

Invoices due but not paid within agreed terms: 0%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

60 days from receipt of a valid invoice

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

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

N/A

Dispute resolution process

Contract terms are subject to negotiation but our standard dispute terms are : Contract Dispute terms: Any dispute relating to the interpretation of, arising out of, relating to or in connection with this Agreement will within fourteen (14) days of being raised by either party, be escalated for resolution to a member of the Customer’s senior management and a director of the Supplier (or such alternative representatives as are nominated in the Statement of Work). Where any dispute is not resolved within thirty (30) days of any such escalation, either party shall then be entitled to resort to formal legal proceedings. Nothing in this clause 23 shall prevent the Customer or any Customer Affiliate from seeking injunctive or similar relief or commencing court proceedings at any time. Back of Purchase Order terms issued to suppliers : DISPUTES Any dispute relating to the interpretation of, arising out of, relating to or in connection with the Agreement will be referred in the first instance to a member iod Standard Life’s senior management and a director of the Supplier for resolution.

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, 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