IG MARKETS LIMITED
Company number: 04008957
Reporting period:
1 December 2019
to 31 May 2020
This report was filed on 30 June 2020
and approved by Richard Heading
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 13%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 16 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
30 days from invoice receipt day
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
In case of any questions/disputes regarding payments, supplier are advised
to initially contact the Accounts Payable
Team directly who can generally resolve
issues arising from delays in invoice
processing or authorisation. Where there
is a genuine dispute then issues are
escalated to the purchaser for resolution.
All
vendors are provided with Accounts
Payable email and phone contact details
when they are first onboarded.
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