No purchase order no payment
We have standard purchase order terms and conditions for goods and services.
The Bank of England adheres to a “no purchase order, no payment” policy. When invoicing for goods or services, Suppliers must quote a valid Purchase Order (‘PO’) number on the invoice to receive payment. Suppliers must ensure that they are provided with a PO number when accepting an order for goods or services.
Once registered and approved by the Bank, POs can be viewed from within the Supplier Portal.
Suppliers who commence the delivery of goods or services prior to being provided with a valid PO do so at their own risk, and risk not being paid.
Any invoice received without a valid PO will result in delays as it will not be processed and will be returned to the supplier unpaid.
The Bank’s Official Purchase Order, e-Invoicing payments
Part 4 (Management of Public Contracts) of PA23 (Act) contains requirements relating to invoicing and payment. The Act requires Contracting Authorities to accept and process electronic invoices that are in a standardised form and sets out payment terms that apply to a broad range of Public Sector contracts and sub-contracts.
Ensuring Suppliers are paid properly for their work is essential to the successful operation of contracts. It is important that Contracting Authorities deal with invoices efficiently and effectively and pay their suppliers on time. Doing so benefits Suppliers’ cash flow and liquidity, reduces their administrative costs, helps with audits and acts as an incentive for suppliers to bid for future Public Sector contracts.
The Bank of England will initiate payment processes for Goods and/or Services on receipt and aim to pay undisputed invoices, that quote a valid purchase order number, within 30 days of the invoice being submitted.
Supplier invoices are required to be submitted to the Bank via the email address financedivisionpaymentsteam@bankofengland.co.uk. Invoice queries should be submitted to finance.operations@bankofengland.co.uk. Although the Supplier Portal allows for Suppliers to review invoice status, the Supplier Portal does not allow Suppliers to submit invoices, raise invoice queries or conduct communication activities (other than Tender Clarification Questions within an active Tender).
All invoices and invoice queries should include the invoice as an attachment when contacting the Finance Division and include the following information.
- The Bank of England's Official Order Reference,
- An identifying invoice number,
- The Supplier's name, address and VAT registration number,
- The date of supply
- Date of issue
- Description of the goods or services supplied
- The customer's name (or trading name) and address
Guidance concerning the Procurement Act 2023 e-Invoice obligations can be found on Procurement Act 2023 Electronic Invoicing and Payment Guidance (GOV.UK).