Re: European Communities (Late Payment Commercial
Transaction) Regulations 2012-Statutory Instrument No. 580 of 2012
B.I.M financial procedures comply with Statutory Instrument No. 580 of 2012 in addition BIM has signed up to the prompt payments code of conduct portal.
Where these conditions are complied with you will receive payment within 30 days. Failure to meet any of these conditions will result in the Invoice being returned to supplier under dispute and payment will be delayed. Disputes regarding invoices will be dealt with by Accounts Payable, who can be contacted via email accountspayable@bim.ie or by phone at (01) 214 4100
Payment of invoices by Bord Iascaigh Mhara is governed by the Prompt Payment of Accounts Act, 1997 as amended by the European Communities (Late Payment in Commercial Transactions) (S.I. No. 580 of 2012). The Regulations, which apply equally to the public and private sectors, provide an automatic entitlement to interest and compensation if payment for commercial transactions is late.
The Government extended the non-statutory requirement applicable to Central Government Departments to all public bodies from July 2011, to reduce the payment period by Public Bodies to their suppliers from 30 to 15 days. Every effort, consistent with proper financial procedures, is being made to ensure that all suppliers are paid within this timeframe.
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