AIB GROUP (UK) P.L.C.
Company number: NI018800
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
27 July 2021
Approved by:
Robert Mulhall
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 11%
- in 61 days or more: 11%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 23%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
AIB shall pay the Charges by electronic transfer or such other method designated by AIB within thirty (30) days of the date of receipt of a correct and valid invoice submitted in accordance with our Purchase Terms.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If we received an invoice and there is something wrong with it this will be disputed back to the vendor. We have 2 ways of disputing invoices, manually and Auto-dispute. When we manually dispute an invoice a comment is left on the invoice telling the supplier the reason behind the dispute and how to fix this. If the invoice is Auto-disputed then a comment is sent to the supplier giving them the dispute reason and also advising them to contact AIB Coupa Helpdesk on 01-6412340.
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