Regulation 113 of the Public Contracts Regulations 2015 requires all contracting authorities to pay undisputed invoices within 30 days. When disputed invoice payments are not paid within this 30 day period, interest becomes payable on the outstanding amount as set out in the Late Payment Legislation.
There is a requirement under Regulation 113(7) of the Public Contracts Regulations Act 2015 that from April 2016 onwards the authority must publicise the following information:
- Percentage of Invoices to first tier suppliers/prime contractors of invoices (not under dispute) paid within 30 days
- The total amount of interest that the contracting authority is liable to pay (whether or not paid) due to breach of Regulation 113
- The actual amount of interest paid to suppliers due to a breach of Regulation 113
The following table demonstrates performance against this requirement.
Proportion of valid & undisputed invoices paid within 30 days in accordance with regulation 113
The total amount of interest we are liable to pay to Suppliers as a result of a breach of Regulation 113
The total amount of interest actually paid to suppliers due to a breach of the requirement in regulation 113
|2018/19||71.68%||Suppliers are able to set their own rates as per UK legislation*||£987.77|
|2017/18||62.33%||Suppliers are able to set their own rates as per UK legislation*||£735.68|
|2016/17||90.09%||Suppliers are able to set their own rates as per UK legislation*||£0.00|
- A fixed charge of £40, £70 or £100 depending on the size of the debt (under £1,000, under £10,000, and higher).
- Interest at 8% over base rate (a level set each 6 months for simplicity).