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STATE STREET GLOBAL ADVISORS LIMITED

Company number: 02509928

Reporting period:
1 July 2020 to 31 December 2020

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

This report was filed on 21 January 2021

and approved by Scott Sanderson

Payment statistics

Average time taken to pay invoices: 16 days

Invoices paid:

• within 30 days: 91%
• in 31 to 60 days: 4%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 29 %

Payment terms

Standard payment period for qualifying contracts

45 days

Standard payment terms

State Street Global Advisors Limited (SSGA) will pay for third-party goods and services within 45 days of receipt of a valid and undisputed VAT invoice, unless otherwise agreed in writing. Invoices should be addressed to the correct legal entity, provide contact details of the State Street contact placing the order, a full description of the goods or services provided and the supplier’s bank account details to avoid any delay in payment. Invoices should be sent directly in the first instance via email to LondonAccountsPayable@statestreet.com. E-invoicing is not offered to all suppliers as a standard process, however certain categories of supplies are offered e-invoicing, for example, legal services. SSGA may offset amounts owing to it by the supplier and may withhold payment of the invoice if there is a genuine dispute relating to it.

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

SSGA endeavours to resolve any supplier disputes fairly and promptly. Disputes are handled in the first instance by discussion between the contracting business and the supplier. Suppliers can also contact SSGA's dedicated Accounts Payable team (LondonAccountsPayable@statestreet.com) who will typically manage the dispute to resolution, escalating as necessary to senior SSGA contacts.

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