BARCLAYS BANK PLC
Company number: 01026167
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by Tushar Morzaria
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 6%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 8 %
Payment terms
Standard payment period for qualifying contracts
45 days
Standard payment terms
45 days from receipt of invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
There are a small number of invoices, outside of our primary systems, that we are currently unable to track. However this is only 0.5 - 1.5% of our total invoices and this does not materially impact our reported performance. Remediation is underway to resolve this issue.
Dispute resolution process
In first instance disputes to be taken up with the Barclays business contact stated on the PO. For general PO or payment queries e-mail to be sent to VendorQuery@barclays.com
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 – Barclays Bank PLC has been a signatory to the Prompt Payment Code since 2009. The group structure has changed considerably since then and we are looking at ensuring that all relevant subsidiaries are still signatories.
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