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Guidelines

In March 2011, the Government made a decision to extend the 15 day prompt payments obligation to the wider public sector. This measure should ensure that all valid invoices received by IHREC on or after 1 July 2011 will be paid within 15 days of receipt.

Circular 30/97 Prompt Payment of Accounts Act, 1997 sets out the statutory obligation and government policy in respect of supplier payments.  The Finance unit is responsible for monitoring that payments made in IHREC are compliant with the Prompt Payments Act.   On receipt of an invoice, Circular 30/97 encourages payment within 15 calendar days and after 30 calendar days, Interest and Recovery Costs become liable in line with the Prompt Payment Act. 

The days are measured from the date the invoice is received (date stamp on invoice or email receipt date) to the day the payment is processed. Suppliers should email invoices directly to accounts@ihrec.ie to monitor compliance with Prompt Payments. 

In instances where it takes more than 30 days to pay a valid invoice, interest and compensation costs are payable to supplier. Interest is payable at 8% per annum, calculated at a daily rate and compensations cost vary depending on the size of the invoice. 

Prompt Payment Reports

Information relating to the Prompt Payments returns are published pursuant to Government Decision No. S29296 of 19 May 2009. 

Quarterly Period Covered: 1 January 2024 to 31 March 2024 (Quarter 1)

Total payments made in Quarter: 311 

  • Value: €879,428.41
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 228 

  • Value: €566,101.85
  • Percentage of total number of payments made: 73.31%

Payments made within 16 days to 30 days: 62 

  • Value: €226,723.46
  • Percentage of total number of payments made: 19.94%

Payments made within 30 days that were subject to LPI and compensation costs: 13 

  • Value: €7,854.84
  • Percentage of total number of payments made: 4.18%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 8

  • Value: €78,748.26
  • Percentage of total number of payments made: 2.57%

Amount of late payment interest (LPI) paid in Quarter: €150.73 0

Amount of compensation costs paid in Quarter €580.00

Quarterly Period Covered: 1 April to 30 June 2024 (Quarter 2)

Total payments made in Quarter: 346

  • Value: €678,500.42
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 264

  • Value: €434,653.34
  • Percentage of total number payments made: 77%

Payments made within 16 days to 30 days: 56

  • Value: €148,684.99
  • Percentage of total number of payments made: 16%

Payments made in excess of 30 days that were subject to LPI and compensation costs: 15 

  • Value: €47,182.96
  • Percentage of total number of payments made: 4%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 11

  • Value: €47,979.13
  • Percentage of total number of payments made: 3%

Amount of Late Payment Interest (LPI) paid in Quarter: €774.55

Amount of compensation costs paid in Quarter: €870.00

Quarterly period covered- July to September 2024 (Quarter 3) 

Total payments made in Quarter: 291

  • Value: €523,033.18
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 243

  • Value: €371,985.83
  • Percentage of total number of payments made: 83.51%

Payments made within 16 days to 30 days: 30

  • Value: €112,477.73
  • Percentage of total number of payments made: 10.31%

30 days that were subject to LPI and compensation costs: 5

  • Value: €16,393.55
  • Percentage of total number of payments made: 1.72%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 13

  • Value: €22,176.07
  • Percentage of total number of payments made: 4.47%

Amount of Late Payment Interest (LPI) paid in Quarter: €12.22

Amount of compensation costs paid in Quarter: €260

Quarterly Period Covered- October to December 2024 (Quarter 4) 

Total payments made in Quarter: 433

  • Value: €1,187,268.71
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 373

Value: 

 

Quarterly period covered: 1 January 2023 to 31 March 2023 (Quarter 1)

Total payments made in Quarter: 287

  • Value: €463,907.82
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 243

  • Value: €397,212.60
  • Percentage of total number of payments made: 85.62%

Payments made within 16 days to 30 days: 3

  • Value: €54,437.92
  • Percentage of total number of payments made: 11.73%

30 days that were subject to LPI and compensation costs: 10 

  • Value: €10,347.70
  • Percentage of total number of payments made: 2.23%

Amount of Late Payment Interest paid in Quarter: €19.30

Amount of compensation costs paid in Quarter: €150.00

Quarterly Period Covered: April- June 2023 (Quarter 2)

Total payments made in Quarter: 336

  • Value: €645,962.85
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 279

  • Value: €449,258.51
  • Percentage of total number of payments made: 69.55%

Payments made within 16 days to 30 days: 36

  • Value: €90,638.47
  • Percentage of total number of payments made: 14.03%

30 days that were subject to LPI and compensation costs: 12 

  • Value: €14,528.06
  • Percentage of total number of payments made: 2.25%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 9

  • Value: €91,537.81
  • Percentage of total number of payments made: 14.17%

Amount of Late Payment Interest (LPI) paid in Quarter: €55.55

Amount of compensation costs paid in Quarter: €600.00

Quarterly Period Covered: July- September 2023 (Quarter 3)

Total payments made in Quarter: 245

  • Value: €488,134.81
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 186

  • Value: €284,381.70
  • Percentage of total number of payments made: 58.26%

Payments made within 16 days to 30 days: 48

  • Value: €136,372.55
  • Percentage of total number of payments made: 27.94%

30 days that were subject to LPI and compensation costs: 11 

  • Value: €67,380.56
  • Percentage of total number of payments made: 13.80%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 2

  • Value: €196.65
  • Percentage of total number of payments made: 0.04%

Amount of Late Payment Interest (LPI) paid in Quarter: €149.93

Amount of compensation paid in Quarter: €770.00 

Quarterly Period Covered: October to December 2023 (Quarter 4) 

Total payments made in Quarter: 478

  • Value: €1,246,205.15
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 418

  • Value: €1,038,115.06
  • Percentage of total number of payments made: 87.45%

Payments made within 16 days to 30 days: 45

  • Value: €158,676.54
  • Percentage of total number of payments made: 9.41%

30 days that were subject to LPI and compensation costs: 4

  • Value: €9,133.75
  • Percentage of total number of payments made: 0.84%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 11

  • Value: €40,279.80
  • Percentage of total number of payments made: 2.30%

Amount of Late Payment Interest (LPI) paid in Quarter: €98.10

Amount of compensation costs paid in Quarter: €190.00

Quarterly Period Covered: 1 January 2022 to 31 March 2022 (Quarter 1)

Total payments made in Quarter: 185

  • Value: €349,903.87
  • Percentage of total number: 100%

Payments made within 15 days: 170 

  • Value: €267,064.73
  • Percentage of total number: 76.33%

Payments made within 16 days to 30 days: 15

  • Value: €93,909.14
  • Percentage of total number: 26.84%

Quarterly period covered: April- June 2022 (Quarter 2)

Total payments made in Quarter: 286

  • Value: €501,219.66
  • Percentage of total number: 100%

Payments made within 15 days: 264 

  • Value: €479,633.83
  • Percentage of total number: 95.69%

Payments made within 16 days to 30 days: 16 

  • Value: €11,922.96
  • Percentage of total number: 2.38%

30 days that were subject to Late Payment Interest (LPI) and compensation costs:2

  • Value: €3,936.00
  • Percentage of total: 0.79%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 3 

  • Value: €1,594.07
  • Percentage of total number: 0.32%

Amount of Late Payment Interest (LPI) paid in Quarter: €63.84

Amount of compensation costs pain in Quarter: €140.00

Quarterly Period Covered: July to September 2022 (Quarter 3)

Total Payments made in Quarter: 310

  • Value: €536,201.84
  • Percentage of total number: 100%

Payments made within 15 days: 269 

  • Value: €482,681.18
  • Percentage of total number 90.02%

Payments made within 16 days to 30 days: 30 

  • Value: €46,301.13
  • Percentage of total number: 8.64%

30 days that were subject to Late Payment Interest (LPI) and compensation costs: 4

  • Value: €6,367.19
  • Percentage of total number: 1.19%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 7 

  • Value: €852.34
  • Percentage of total number: 0.16%

Amount of LPI paid in Quarter: €88.83

Amount of compensation costs paid in Quarter: €250.00

Quarterly Period Covered: September 2022- December 2022 (Quarter 4)

Total Payments made in Quarter: 439

  • Value: €1,625,058.48
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 405

  • Value: €1,503,670.66
  • Percentage of total number: 92.53%

Payments made within 16 days to 30 days: 27

  • Value: €81,058.21
  • Percentage of total number 4.99%

30 days that were subject to LPI and compensation costs: 3

  • Value: €19,335.60
  • Percentage of total number: 1.19%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 4

  • Value: €20,994.01
  • Percentage of total number: 1.29% 

Amount of late payment interest (LPI) paid in Quarter: €14.67 

Amount of compensation costs paid in Quarter: €240.00

Quarterly Period Covered: 1 January 2021 to 31 March 2021 (Quarter 1)

Total Payments made in Quarter: 158 

  • Value: €406,919.67
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 158 

  • Value: €406,348.21
  • Percentage of total number of payments made: 99%

Payments made within 16 days to 30 days: 1

  • Value: €571.46
  • Percentage of total number of payments made: 1%

Quarterly Period Covered: 1 April 2021 to 30 June 2021 (Quarter 2)

Total payments made in Quarter: 132

  • Value: €452,786.32
  • Percentage of total number of payments: 100%

Payments made within 15 days: 95

  • Value: €356,558.88
  • Percentage of total number of payments: 71.97%

Payments made within 16 days to 30 days: 23 

  • Value: €69,701.59
  • Percentage of total number of payments: 17.42%

30 days that were subject to LPI (Late Payment Interest) and compensation costs: 7

  • Value: €5,793.87
  • Percentage of total number of payments: 5.3%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 7 

  • Value €20,731.98
  • Percentage of total number of payments: 5.3%

Amount of Late Payment Interest (LPI) paid in Quarter: €12.94

Amount of compensation costs paid in Quarter: €290.00

Quarterly Period Covered: 1 July 2021 to 30 September 2021 (Quarter 3)

Total payments made in Quarter: 147

  • Value: €329,741.70
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 123

  • Value: €284,369.53
  • Percentage of total number of payments made: 83.67%

Payments made within 16 days to 30 days: 20 

  • Value: €43,654.76
  • Percentage of total number of payments made: 13.61%

30 days that were subject to LPI and compensation costs: 3

  • Value: €1,492.41
  • Percentage of total number of payments made: 2.04%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 1 

  • Value: €225.00
  • Percentage of total number of payments made: 0.68%

Amount of Late Payment Interest (LPI) paid in Quarter: €3.02

Amount of compensation costs pain in Quarter: €120.00

Quarterly Period Covered: 1 October 2021 to 31 December 2021 (Quarter 4)

Total payments made in Quarter: 394

  • Value: €1,673,864.60
  • Percentage of total number of payments made: 100%

Payments made within 15 days: 359

  • Value: €1,611,344.30
  • Percentage of total number of payments made: 91.12%

Payments made within 16 days to 30 days: 29

  • Value: €50,252.68
  • Percentage of total number of payments made: 7.36%

Payments made in excess of 30 days that were subject to LPI and compensation costs: 2

  • Value: €8,037.25
  • Percentage of total number of payments made: 0.51%

Payments made in excess of 30 days that were not subject to LPI and compensation costs: 4

  • Value: €4,230.37
  • Percentage of total number of payments made: 1.02%

Amount of Late Payment Interest (LPI) paid in Quarter: €97.03

Amount of compensation costs paid in Quarter: €110.00