IG INDEX LIMITED
Company number: 01190902
Reporting period:
1 December 2021
to 31 May 2022
This report was filed on 1 August 2022
and approved by Mayowa Fasoto
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 10%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 12 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
30 days from invoice receipt
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
N/A
Dispute resolution process
In case of any questions/issues regarding payments suppliers are advised to initially contact the
Accounts Payable Team directly who can generally resolve issues arising from delays in invoice
process or authorisation. Where there is a genuine dispute then issues are escalated to the purchaser for resolution. All vendors are provided with Accounts Payable email and phone contact
details when they are first onboarded.
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