Payment types and expected times
The University's payment terms are within 30 days of receipt of the invoice by the Payments Team. Please note the 30 days begin only after the invoice has been verified as valid and undisputed.
There are a number of methods by which payment can be made. These methods vary in their payment times due to the nature of the payment type. Please see below for details:
BACS Payment - The preferred method of sending domestic payments. Standard timescale of 3 working days.
Bank Cheque - Cheques are produced on the first working day of the month only.
Electronic Payment (International) - This is the method of making international payments. Please be aware however that the approximate payment time varies from country to country dependent on the banking regulations enforced in the country receiving the payment. (Approximate timescale of 3 - 10 working days)
*Please note "Invoice posting" day is the day in which the invoice has been received and posted by the Payments Team. It is not the day in which the Vendor sends the Invoice or the day in which the Department sends the Invoice to Payments.