Company number: 02783251
and approved by Israel Santos
Average time taken to pay invoices: 10 days
Invoices paid:
Invoices due but not paid within agreed terms: 5%
30 days
45 days
Standard payment terms are 30 days after receipt of a correct, undisputed, timely provided and properly due VAT invoice. In some circumstances, MBNA Limited agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices.
Answer not provided
N/A
45 days
No differentiation, contractual period agreed per supplier
Invoice Receipt Date We are currently only able to record the date of receipt of invoices for circa 69% of reportable invoices in this report. Where the date we receive an invoice is not available, we have reported on the date of the invoice itself, as we consider this the most justifiable alternative. Unknown payment terms For certain suppliers, our systems do not currently capture details of the payment terms in place under qualifying contracts with those suppliers. Therefore, for the purposes of reporting on our payment statistics for those qualifying contracts, we have assumed that all payments under those contracts are due within 30 days of the date of receipt of the invoice, which reflects our most commonly used contractual payment terms. Discrepancy between contracting entity and paying entity Our payment statistics include some payments made by MBNA Limited where, although we are not the contracting entity for the relevant qualifying contract, the services have been received and paid for by MBNA Limited. Sufficient link to the UK Our payment statistics may include some payments made to non-UK entities where we have been unable to ascertain whether the contract has a sufficient link to the UK to meet the criteria for reporting. It is not MBNA Limited policy to differentiate supplier payment terms based on supplier jurisdiction and our payment practices for non-UK entities are representative of those followed for UK entities.
Suppliers can raise queries with their appointed managers in the first instance. They can also contact the dedicated accounts payable team (LloydsInvoiceEnquiries@Lloydsbanking.com). Such contacts would generally seek to deal with any disputes promptly (involving other senior contacts, as needed), in accordance with the terms of the contract.
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Prompt Payment Code
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No