ATLANTA 1 INSURANCE SERVICES LIMITED
Company number: 03642372
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
27 January 2020
Approved by:
C Ball
Payment statistics
Average time taken to pay invoices: 8 days
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 5%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 9%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days where credit is taken.
Immediate payment is made for some smaller items from certain 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
30 days
Additionally, there are some suppliers who invoice at the start of a year or period and expect payment in instalments over several months e.g. business rates. These are normally paid by direct debit arranged with the supplier. Certain suppliers issue invoices but allow extended payment terms for certain large value invoices.
Any other information about payment terms
No further comment provided
Dispute resolution process
If we dispute an invoice raised, the relevant supplier is contacted by the relationship owner and advised of the disputed amount and the reasons and works to resolve the issue as soon as possible. The Company Finance team can also be contacted by suppliers who have payment queries.
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