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MS AMLIN CORPORATE SERVICES LIMITED

Company number: 02282413

Reporting period:
1 January 2020 to 30 June 2020

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This information is as reported by the business, and responses are in their own words.

This report was filed on 29 July 2020

and approved by Julian Scofield

Payment statistics

Average time taken to pay invoices: 61 days

Invoices paid:

• within 30 days: 50%
• in 31 to 60 days: 25%
• in 61 days or more: 25%

Invoices due but not paid within agreed terms: 50 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Standard payment terms in MS Amlin Corporate Services Limited’s Master Agreement are 30 days from the date of receipt of an invoice.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

30 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

There is a dispute resolution procedure set out in MS Amlin’s Master Services Agreement and the parties are required to resolve any dispute on an informal basis by referring the matter to the supplier’s relationship manager and MS Amlin’s relationship manager within 5 business days of receipt of a written notice setting out details of the dispute. If the matter cannot be resolved within that time period, then the matter will be escalated to MS Amlin’s Chief Operating Officer and the person who holds equivalent status within the supplier’s organisation.
If attempts to resolve at this level fail, the dispute is escalated to the parties’ relevant Chief Executive Officers.

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