UK GREEN INVESTMENT BANK LIMITED

Company number: SC424067

Reporting period:
1 April 2018 to 30 September 2018

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This report was filed on 30 October 2018

and approved by Mark Dooley

Payment statistics

Average time taken to pay invoices: 53 days

Invoices paid:

• within 30 days: 42%
• in 31 to 60 days: 28%
• in 61 days or more: 30%

Invoices due but not paid within agreed terms: 57%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

30 days from receipt of a valid invoice. In some circumstances Macquarie may agree to an alternative payment terms with a supplier based on a specific project, transaction, series of transactions or criticality.

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

Intercompany charges relating to the provision of back office services are settled immediately via intercompany funding hubs. As such, data relating to these charges has been excluded so as to accurately represent Macquarie’s payment practices.

Dispute resolution process

Suppliers may raise queries directly with their Macquarie business contact or alternatively with the dedicated procurement support team referred to on Macquarie’s Supplier Portal – https://www.macquarie.com/uk/about/company/suppliers

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