ONESAVINGS BANK PLC
Company number: 07312896
Reporting period:
1 January 2022 to 30 June 2022
Report filed on:
28 July 2022
Approved by:
April Talintyre
Payment statistics
Average time taken to pay invoices: 9 days
Invoices paid:
- within 30 days: 97%
- in 31 to 60 days: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Where we enter into standard terms with suppliers they would usually include payment terms requiring payment within 30 days of invoice date. Following receipt of a valid invoice, those invoices are processed and matched to an approved purchase order, and thereafter included in the next weekly payment run.
Were there any changes to the standard payment terms in the reporting period?
No
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
No further comment provided
Dispute resolution process
Any complaints should be submitted to the OneSavings Bank plc member of staff managing the contract. If required, they may escalate the dispute to the relationship manager and thereafter the Executive. If there is any further dispute, this would be escalated and referred to the 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 Fair 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