POOL REINSURANCE COMPANY LIMITED
Company number: 02798901
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
29 July 2019
Approved by:
Barbara Jane Merry
Payment statistics
Average time taken to pay invoices: 13 days
Invoices paid:
- within 30 days: 100%
- in 31 to 60 days: 0%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 13%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
The entity does not hold or impose standard payment terms for suppliers. Payment terms are dependent on the nature of the transaction, ranging from "immediate payment" to 31 days, payments are negotiated on a case by case basis. For the purpose of reporting, the median has been assumed as the standard payment terms.
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
31 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Finance team is contactable via telephone, email or post. In most cases, the supplier can follow up on bills to the same centralised email address, which is regularly monitored, to which they submitted the original invoice.
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