Finance Office >> Accounts Payable

Accounts Payable

Dundalk Institute of Technology(DkIT) is committed to paying suppliers (except those with extended contracted payment terms) within a timeframe of 15 days from date of receipt by the Finance Office’s Accounts Payable Section of a valid invoice.This is in line with the Statutory requirement from 1 July 2011, that all public sector bodies are obliged to commit to paying suppliers within fifteen days of receipt of a valid invoice as part of the government’s support programme to assist the cash-flows of SMEs.

DkIT has an excellent record in paying its suppliers within the 15 day timeframe, with on average 95% of its suppliers being paid within 15 days in any payment quarter. Please see Quaterly Prompt Payment Returns detailing our historic payment records.

Late payment interest will continue to be payable under the terms of the Prompt Payment of Accounts Act 1997 for any payments made more than 30 days after the receipt of valid invoice.