GOV.UK
BLACKROCK INVESTMENT MANAGEMENT (UK) LIMITED
Company number: 02020394
Reporting period:
1 January 2020
to 30 June 2020
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 31 July 2020
and approved by Colin Thomson
Payment statistics
Average time taken to pay invoices: 47 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 18%
- in 61 days or more: 13%
Invoices due but not paid within agreed terms: 28 %
Payment terms
Standard payment period for qualifying contracts
45 days
Standard payment terms
45 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
Any other information about payment terms
N/A
Dispute resolution process
Initial queries are directed to a central Accounts Payable team (e-mail or telephone). If the team are unable to resolve as a first line support, issues are escalated to the company contact who engaged the supplier's services/requested goods. If required the business would engage the relevant procurement lead/relationship manager. When suppliers enter into a contract they are provided with the contact details for the central Accounts Payable team.
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.
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