QBE MANAGEMENT SERVICES (UK) LIMITED
Company number: 03153567
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
29 January 2020
Approved by:
David Winkett
Payment statistics
Average time taken to pay invoices: 46 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 7%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 36%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Where payment terms are not recorded in the system the default figure of 30 days has been used to calculate the Invoices due but not paid within agreed terms figure
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
We have defined escalation points within our standard supplier contracts for dealing with disputes that arise under the contract. This would include disputes regarding invoices and payment terms. However, we do not have a standard formal dispute resolution process beyond this escalation.
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