BANK OF IRELAND (UK) PLC
Company number: 07022885
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 31 July 2018
and approved by Thomas McAreavey
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 18%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 28 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The standard contractual terms for all goods and services is 30 days.
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
Bank of Ireland (UK) Plc is committed to prompt payment of invoices, where goods and services have been provided in accordance with contractual obligations.
Dispute resolution process
The main point of contact for a supplier in resolving a dispute in relation to payment under a qualifying contract is the business unit contact name who engaged the supplier to provide the relevant the goods / services to the company.
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.
No
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