VANGUARD ASSET MANAGEMENT, LTD.

Company number: 07243412

Reporting period:
1 July 2023 to 31 December 2023

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This report was filed on 26 January 2024

and approved by Sean Hagerty

Payment statistics

Average time taken to pay invoices: 55 days

Invoices paid:

• within 30 days: 55%
• in 31 to 60 days: 38%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 51%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

The Company's standard contractual payment terms for all qualifying contracts during this period were payments within 60 days after invoice receipt date. Other payment terms may apply after negotiation. The agreed payment terms are subsequently reflected in our contractual documentation and accounting system.

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

60 days

Not applicable.

Any other information about payment terms

Not applicable.

Dispute resolution process

All invoices and invoice inquiries should be sent to APInquiries@vanguard.com; invoices should be submitted in PDF format. The supplier and company shall use all reasonable endeavors to discuss and resolve and payment dispute. If the parties cannot resolve the dispute within 10 days, the dispute shall be elevated to management.

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.

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