ULSTER BANK, LIMITED
Company number: R0000733
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
21 January 2022
Approved by:
ALISON ROSE
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 89%
- in 31 to 60 days: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 11%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
30 DAYS
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
“The legal entity of Ulster Bank Limited has been transferred to the legal entity of National Westminster Bank Plc (NWPLC UK) under the Banking Business Transfer Scheme. From the next cycle of reporting, H1 2022, Ulster Bank Limited will not be reported as a separate legal entity and all performance will be included as part of National Westminster Bank Plc (NWPLC UK). Please find below the communication issued as part of this change if you require further information. https://www.ulsterbank.co.uk/globals/banking-business-transfer-scheme.html.”
Dispute resolution process
The business completes the Account Payables Dispute Process form, the business advice the supplier that the invoice will be returned unpaid to them. Once the dispute is resolved, they will be required to submit a new invoice.
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.
Yes, this business has signed up to: Prompt Payment Code 2009
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