RBC EUROPE LIMITED

Company number: 00995939

Reporting period:
1 May 2018 to 31 October 2018

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This report was filed on 29 November 2018

and approved by Stephen Krag

Payment statistics

Average time taken to pay invoices: 17 days

Invoices paid:

• within 30 days: 90%
• in 31 to 60 days: 9%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 10%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

45 days

Standard payment terms

RBC’s policy is to settle the terms of payment with suppliers when negotiating and agreeing upon the terms of each arrangement. RBC ensures that suppliers are made aware of and abide by the terms of payment. Standard terms of payment are normally 30 days from receipt of the invoice. However, some supplier contract payment periods may vary depending on the nature of the arrangement (e.g. payment from 45 days from receipt of the invoice, payment period commencing from date of invoice, etc.).

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

N/A

Dispute resolution process

Complaints or concerns should be raised in the first instance with the Accounts Payable team, for which all suppliers have contact details. The Accounts Payable team will escalate where applicable to the Accounts Payable team leader, Procurement and the Group legal team.

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.

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