Cheltenham & Gloucester PLC paid suppliers in 18 days on average — inside its 30-day stated terms

Standard payment terms

Standard payment terms are 30 days after receipt of a correct, undisputed, timely provided and properly due VAT invoice. In some circumstances, Cheltenham & Gloucester Plc agrees appropriate terms of payment with suppliers for each transaction or series of transactions, and abides by those terms based on the timely submission of valid invoices.

Dispute resolution

Suppliers can raise queries with their appointed managers in the first instance. They can also contact the dedicated accounts payable team ([email protected]). Such contacts would generally seek to deal with any disputes promptly (involving other senior contacts, as needed), in accordance with the terms of the contract.

Other information

Invoice Receipt Date We are currently only able to record the date of receipt of invoices for circa 54% of reportable invoices in this report. Where the date we receive an invoice is not available, we have reported on the date of the invoice itself, as we consider this the most justifiable alternative. Unknown payment terms For certain suppliers, our systems do not currently capture details of the payment terms in place under qualifying contracts with those suppliers. Therefore, for the purposes of reporting on our payment statistics for those qualifying contracts, we have assumed that all payments under those contracts are due within 30 days of the date of receipt of the invoice, which reflects our most commonly used contractual payment terms. Discrepancy between contracting e