BLACKROCK INVESTMENT MANAGEMENT (UK) LIMITED

Company number: 02020394

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 20 August 2018

and approved by COLIN THOMSON

Payment statistics

Average time taken to pay invoices: 51 days

Invoices paid:

• within 30 days: 57%
• in 31 to 60 days: 23%
• in 61 days or more: 20%

Invoices due but not paid within agreed terms: 35%

Payment terms

Shortest standard payment periods

45 days

Longest standard payment period

Answer not provided

Standard payment terms

PAYMENT TERMS 45 DAYS STANDARD

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

45 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Initial queries are directed to a central Accounts Payable team based in UK (e-mail or telephone). If the team are unable to resolve as a first line support, issues are escalated to the company contact who engaged the supplier's services/requested goods. If required the business would engage the relevant procurement lead/relationship manager. When suppliers enter into a contract they are provided with the contact details for the central Accounts Payable team.

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