There is an obligation for all contracting authorities to pay undisputed invoices within 30 days for all their first tier or prime contractors.
From March 2016, Public Contracting Regulation 03/16 requires this information to be published on an annual basis.
Obtain a copy of the Procurement Policy Note 03/16
The data shown below represents payment performance of commercial spend only. The payment performance measurement is against settlement terms and not just within 30 days. *This is because some of our local small and medium enterprises and other suppliers enjoy earlier settlement terms than the standard 30 days or settlement terms.
|Financial Year||Proportion of valid and undisputed invoices paid within *30 days in accordance with regulation 113||The amount of interest paid to suppliers due to a breach of the requirement in regulation 113||**The total amount of interest that the authority was liable to pay due to a breach of Regulation 113|
**From 2016/17, interest will be calculated on all late payments based upon individual vendor settlement terms (which may be less than 30 days), this calculated interest may include documents which have been disputed and subsequently released for payment and therefore the calculated figure exceeds the sum that the authority would actually pay.
***Due to increases in base interest rates