RBS 2005 Annual Report Download - page 116

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114
Report of the directors
Report of the directors continued
Policy and practice on payment of creditors
The Group is committed to maintaining a sound commercial
relationship with its suppliers. Consequently, it is the Group’s
policy to negotiate and agree terms and conditions with its
suppliers, which includes the giving of an undertaking to pay
suppliers within 30 days of receipt of a correctly prepared
invoice submitted in accordance with the terms of the contract
or such other payment period as may be agreed.
At 31 December 2005, the Group’s trade creditors represented
27 days (2004 – 27 days) of amounts invoiced by suppliers.
The company does not have any trade creditors.
Directors' indemnities
In terms of section 309C of The Companies Act 1985 (as
amended), the directors of the company, members of the
Group Executive Management Committee and Approved
Persons of the Group (under the Financial Services and
Markets Act 2000) have been granted Qualifying Third Party
Indemnity Provisions by the company.
Auditors
The auditors, Deloitte & Touche LLP, have indicated their
willingness to continue in office. A resolution to re-appoint
Deloitte & Touche LLP as the company’s auditor will be
proposed at the forthcoming Annual General Meeting.
By order of the Board.
Miller McLean
Secretary
27 February 2006
The Royal Bank of Scotland Group plc
is registered in Scotland No. 45551.