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  2. THE ROYAL BANK OF SCOTLAND PUBLIC LIMITED COMPANY reports

THE ROYAL BANK OF SCOTLAND PUBLIC LIMITED COMPANY

Company number: SC083026

Reporting period:
1 July 2023 to 31 December 2023

This information is as reported by the business, and responses are in their own words.

This report was filed on 25 January 2024

and approved by Jennifer Tippin

Payment statistics

Average time taken to pay invoices: 7 days

Invoices paid:

Invoices due but not paid within agreed terms: 4 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

30 days

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

NA

Any other information about payment terms

NA

Dispute resolution process

The Business completes the Account Payables Dispute Process form, the business advice the supplier that the invoice will be returned unpaid to them. Once the dispute is resolved, they will be required to submit a new invoice.

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 – Prompt Payment Code 2009

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