ECCLESIASTICAL INSURANCE OFFICE PUBLIC LIMITED COMPANY
Company number: 00024869
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 January 2019
Approved by:
Ian Campbell
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 27%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 27%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
50 days
Standard payment terms
Template contracts or purchase order terms (with a standard payment period of 45 days) in use that provide notice of our payment period and associated process of quoting an order number when submitting an invoice. We also advise that we will be liable for late payment charges should we pay invoices late.
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
50 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
An invoice received that is not able to be processed and paid (due to various reasons) will be passed to Supply Chain Management Team for investigation (supplychain@ecclesiastical.com). Supply Chain will review the invoice and liaise with colleagues internally or with supplier directly to attempt to resolve the invoice dispute within 7 days. All invoices should reference the Purchase Order number and either be emailed to business.payments@ecclesiastical.com or posted to Ecclesiastical Insurance, Business Payments, Beaufort House, Brunswick Road, Gloucester, GL1 1JZ. No business should be accepted by the supplier without a Purchase Order.
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