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Company number: SC271355

Reporting period:
1 January 2018 to 30 June 2018

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

This report was filed on 30 July 2018

and approved by Stephen Percival

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

Invoices due but not paid within agreed terms: 11 %

Payment terms

Shortest standard payment period

31 days

Longest standard payment period

60 days

Standard payment terms

Payment of the Price will be made by the end of the month following either;- 1) the month in which the goods are received or accepted by Standard Life or the services provided, or 2) in which the invoice for such Goods and Services is received, whichever is later.

Were there any changes to the standard payment terms in the reporting period?


Maximum contractual payment period agreed

60 days

Any other information about payment terms


Dispute resolution process

In the first instance invoice queries should be referred to the business area or team that initially raised the Purchase Order for resolution. This information is available on the Purchase Order. Should the dispute not be resolved in a reasonable time the dispute should be raised though the line in the business area and (if appropriate) to the appropriate Procurement specialist. The Purchase to Pay team at Standard Life House should also be contacted.

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?