TRANSRE LONDON LIMITED
Company number: 08506758
Reporting period:
1 January 2019
to 30 June 2019
This report was filed on 16 July 2019
and approved by David Radford
Payment statistics
Average time taken to pay invoices: 7 days
Invoices paid:
- within 30 days: 100%
- in 31 to 60 days: 0%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 0 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The Company does not use standard payment terms. The Company accepts the payment terms of its suppliers in the majority of cases, but will seek to negotiate payment terms of 30 days if a supplier proposes shorter terms for a contract that is considered material to the Company. The most frequently used payment terms by the Company’s suppliers are 30 days. The Company does not routinely seek early settlement discounts.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Invoices should be addressed to either the appropriate TransRe contact or Accounts Payable at: Finance Department – Accounts Payable, TransRe London Services Limited, Corn Exchange, 55 Mark Lane, London, EC3R 7NE. Disputes should be escalated to the Chief Administration Officer at the above address, with a copy to the Head of Legal at the same address.
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
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