XL CATLIN INSURANCE COMPANY UK LIMITED
Company number: 05328622
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
29 January 2019
Approved by:
Paul Bradbrook
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 8%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
The Company’s standard payment terms for qualifying contracts are payment within 30 days of the date of the invoice.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
All payment periods stated above run from the date of the invoice.
Dispute resolution process
Suppliers should communicate any disputes or concerns to the business contact in the first instance. If the issue cannot be resolved at this level within a reasonable period, the issue will be escalated to senior management of the Company who will negotiate in good faith to resolve the dispute. If the dispute remains unresolved, more formal dispute resolution procedures shall be considered in accordance with contractual terms and/or the applicable law.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No