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Payment Process
Barclays standard means of ordering goods or services is through raising Purchase Orders. In order to settle its invoices, Barclays has recently introduced an electronic invoicing process to be used for all invoices matched to Purchase Orders. We are currently working with our existing suppliers to phase out paper invoices thereby removing the issues associated with this method of invoicing. This electronic invoicing method will ensure that Barclays continues to ensure that suppliers are paid in line with our creditors payment policy. The process is as follows:
- Purchase Order/Invoice Purchase Orders will be raised to cover all Barclays* commitments. Invoices will be paid on the basis of an electronic matching process:
- Purchase Order
- Order Fulfillment
- Invoice submitted electronically to Barclays via OB10 e-invoicing network (See www.OB10.com/Barclays for further information)
- Electronic approval from Barclays requisitioner
Do not submit invoices before goods and services are supplied unless by specific agreement.
*Alternative instructions and payment routines may apply for Barclays Capital and Barclays Global Investors. These should be sought from your normal purchasing contact.
In certain circumstances Barclays may also use the following:
- One-Bill electronic billing arrangements through Barclays One Bill' process have been implemented with key suppliers issuing a high volume of individual bills. This is Barclays preferred option where multiple bills are being sent by the supplier.
- Visa Purchasing Card (VPC) use of the card is the preferred method for lower value purchases of approved commodities, and purchases here generally do not exceed a value of £10,000 including VAT. Invoices cannot be submitted for payment for any VPC orders, including those raised through the e-procurement system and marked as Payment by Purchasing Card (VPC). Payment is to be taken from the card and a copy invoice (only) sent to the requestor, clearly marked Paid by Visa. Refer to Purchasing Processes Visa Purchasing Card, for further information here.
- Company Barclaycard this is a preferred method for travel and entertainment related suppliers (e.g. hotels, rail travel, hire cars).
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