The Student Loans Company- Procurement Portal

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Payment of Invoices

The Student Loans Company (SLC) recognises the importance of cash flow to all companies, especially small firms and has a clear policy to pay bills in accordance with the terms of the contract. The main way we pay our suppliers is through BACS (Bank Automated Clearing System).

The benefits to you are:

  • Payment is made directly into your account
  • You spend less time handling and banking than if paid by cheque
  • You do not need to make a trip to the bank
  • You do not need to wait for the cheque to be cleared
  • Prompt payment means that you can use the money straight away as "cleared funds"
  • If paid into an interest bearing account it also means that you are earning interest earlier
  • The money transfer is secure. With a cheque there is always a risk that this may go missing

Our standard payment terms are 30 days from the date the payment is due, on receipt of a correct and fully compliant invoice.