SANTANDER UK TECHNOLOGY LIMITED

Company number: 05212726

Reporting period:
1 July 2022 to 31 December 2022

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This report was filed on 16 February 2023

and approved by Jarrod Glover

Payment statistics

Average time taken to pay invoices: 94 days

Invoices paid:

• within 30 days: 54%
• in 31 to 60 days: 7%
• in 61 days or more: 39%

Invoices due but not paid within agreed terms: 46%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

Answer not provided

Standard payment terms

Santander UK Technology Limited payment terms are 30 days. There are no contracts for which there are longer payment terms and there have been no changes to this arrangement in the period.

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

N/A

Dispute resolution process

If a supplier has a dispute regarding payment, there is an established escalation and investigation process in place. Should the supplier remain unhappy at the outcome of the initial escalation and investigation, they can refer the matter to an independent body. Information regarding this process is included in the standard contract terms.

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.

Yes, this business has signed up to: Prompt Payment Code

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