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AIB GROUP (UK) P.L.C.

Company number: NI018800

Reporting period:
1 January 2021 to 30 June 2021

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

This report was filed on 27 July 2021

and 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%

Invoices due but not paid within agreed terms: 23 %

Payment terms

Standard payment period for qualifying contracts

30 days

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

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

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 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