TESCO UNDERWRITING LIMITED
Company number: 06967289
Reporting period:
1 March 2026 to 31 August 2026
Report filed on:
29 September 2026
Approved by:
Paul Cartin
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 20 days
Total value paid:
- within 30 days: £46,301,539 (96%)
- in 31 to 60 days: £1,681,988 (3%)
- in 61 days or more: £86,523 (< 1%)
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 4%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £1,768,511
- payments due in the reporting period which have not been paid within the agreed period: 5%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are typically 30 days
from the invoice date. However, depending on the
company's policies and agreement, it can be up to
60 days. We aim to process all the payments within
the agreed terms to maintain positive relationship
with all our suppliers.
Were there any changes to the standard payment terms in the reporting period?
No
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
No further comment provided
Dispute resolution process
If it has been flagged that payment has not been
made within 30 days, this is then raised as a priority
with the operational manager to investigate the
reason.
After the investigation has taken place, either the
payment is made immediately, or a response is
returned to the person making.
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 Fair 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