SMBC BANK INTERNATIONAL PLC
Company number: 04684034
Reporting period:
1 October 2021 to 31 March 2022
Report filed on:
29 April 2022
Approved by:
Hideo Kawafune
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 74%
- in 31 to 60 days: 17%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 26%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our usual practice is to adopt the payment terms stipulated by the supplier - in most cases this is 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
30 days
No further comment provided
Any other information about payment terms
The intention is to settle all invoices within 30 days of receipt of invoice. Shorter terms may be required for certain services, but in practice payment within 2-3 weeks is generally acceptable to the supplier.
Dispute resolution process
Payment processing and any related queries are handled by the Remittance and Expense team. In the event that the query remains unresolved, it will be escalated to management and internal Legal Counsel accordingly.
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, 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