ICE CLEAR EUROPE LIMITED

Company number: 06219884

Reporting period:
1 July 2020 to 31 December 2020

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This report was filed on 28 January 2021

and approved by Hester Serafini

Payment statistics

Average time taken to pay invoices: 27 days

Invoices paid:

• within 30 days: 73%
• in 31 to 60 days: 12%
• in 61 days or more: 15%

Invoices due but not paid within agreed terms: 22%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

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

30 days

No further comment provided

Any other information about payment terms

The performance figures include payments made to numerous large professional services providers which, given their nature, require detailed review before approval and payment. Accordingly these payments can contribute to a longer average number of days to pay and a higher percentage of payments due not paid within the stated payment period.

Dispute resolution process

Dispute resolutions are handled on a case by case basis based on individual facts and circumstances. ICE Clear Europe Limited seeks to resolve disputes as quickly as possible; we have a dedicated accounts payable team that support suppliers with query resolution. In the event that the accounts payable team is unable to resolve a dispute, they will refer the matter to senior management for resolution.

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