ICICI BANK UK PLC

Company number: 04663024

Reporting period:
1 April 2024 to 30 September 2024

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This report was filed on 29 October 2024

and approved by Mr.Raghav Singhal

Payment statistics

Average time taken to pay invoices: 7 days

Invoices paid:

• within 30 days: 97%
• in 31 to 60 days: 3%

Invoices due but not paid within agreed terms: 3%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

60 days

Standard payment terms

After receipt of invoice duly complete with all necessary details, other supporting if required and supply of goods/service complete as agreed with vendor, against which invoice is being raised, standard payment term is 30 days.

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

NA

Any other information about payment terms

NA

Dispute resolution process

If there are any dispute related to the invoice, the respective branch/unit/department takes it up with respective vendor. Or vendor, if it requires, takes it up respective branch/unit/department receiving the services or goods. For general payment related queries, email sent to accountspayableuk mail id

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