AMERICAN EXPRESS GROUP SERVICES LIMITED

Standard payment terms

American Express’ standard contract length is 3 years with standard payment days of 60 after receipt of a correct, undisputed, timely provided and properly due VAT invoice. In many instances purchase orders are raised with suppliers and again the standard payment days is 60. However, American Express has a range of payment tool options that can allow suppliers to be paid faster than the standard 60 days.

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

For suppliers where we sign contracts (not purchase orders) American Express has a range of payment tool options that can allow suppliers to be paid faster than the standard 60 days.

Maximum contractual payment period agreed

60

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

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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.

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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.

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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?

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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available