BANK OF IRELAND (UK) PLC

Company number: 07022885

Reporting period:
1 January 2022 to 30 June 2022

---

This report was filed on 27 July 2022

and approved by Thomas McAreavey

Payment statistics

Average time taken to pay invoices: 20 days

Invoices paid:

• within 30 days: 93%
• in 31 to 60 days: 5%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 8%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

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?

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

Bank of Ireland Group is committed to prompt payment of invoices, where goods and services have been provided in accordance with contractual obligations. Effective 8 April 2020 all small and medium enterprise suppliers were paid on immediate terms once a valid* invoice was received in Procurement at invoices@boi.com (*Note: Valid invoice is defined as after standard verification and business unit approval of the invoice is complete.)

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, 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.

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