‌C‌lick on the links below for the Reports pursuant to Government Commitments in the National Recovery Plan 2011-2014 and the EU/IMF Programme of Support for Ireland – Programme Documents

The payment of invoices by public sector bodies is governed by the Prompt Payment of Accounts Act 1997 as amended by the European Communities (Late Payment in Commercial Transactions) Regulations 2012 – S.I. 580 of 2012. The regulations provide an automatic entitlement to interest and compensation if payment for commercial transactions is late (valid invoices which are unpaid after 30 days from the relevant payment date).

 The PPI rate is currently 8% per annum (equates to a daily rate of 0.022%). Interest on late payments is calculated on a daily basis, for each day after the 30 days.

 NUI Galway will be introducing this regulation on a phased basis, and PPI will be payable on invoices  from suppliers within the EU, effective from the payment run on 8th September 2022.

 NUI Galway must pay for the goods and services that it procures within 30 days of the invoice date unless there are other payment terms expressly agreed, or unless there is an issue with invoice payment. Apart from these two exceptions, if payments are made outside of the agreed payment terms (30 days), suppliers are entitled to interest and compensation for late payments.

 These costs are additional costs to a budget holder’s cost centre.  PPI will be posted to General Ledger account 3168 in Agresso.

 NUI Galway is committed to making every effort to pay its suppliers promptly. In this regard both you and the suppliers can assist by ensuring that:

  • Agresso tasks are approved in a timely manner
  • Invoices quote a valid purchase order number
  • Correct invoices are sent directly to supplierinvoices@universityofgalway.ie
  • Supplier master data details are accurate
  • Supplier tax clearance certificates are up to date

 Further information is available on the links below:

 Late Payment in Commercial Transactions - DETE (enterprise.gov.ie)

https://www.universityofgalway.ie/financialsystem/webpurchasing/paymentsandsuppliers/