BARCLAYS PLC
Company number: 00048839
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 26 July 2023
and approved by Angela Anna Cross
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 28%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 8 %
Payment terms
Shortest standard payment period
45 days
Longest standard payment period
60 days
Standard payment terms
45 days from invoice receipt.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
As a signatory to the Prompt Payment Code, Barclays takes on average 7 days to settle payments to small businesses.
Barclays PLC recently acquired Kensington Mortgage Company Limited on 01 Mar 2023. Kensington Mortgage Company Limited has not been included within Barclays PLC’s H1 2023 return, as it has reported separately and will continue to do so until it has been integrated into the bank’s core processes.
Dispute resolution process
In the first instance disputes are to be taken up with the Barclays business contact stated on the PO. For general PO or payment queries e-mails should be sent to Procurementopssupport@barclays.com
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.Yes – Barclays PLC is a signatory of the Prompt Payment Code
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