CAPITA INSURANCE SERVICES LIMITED
Company number: 01396443
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
26 July 2018
Approved by:
Simon Mayall
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 67%
- in 31 to 60 days: 20%
- in 61 days or more: 13%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 35%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
40 days
Standard payment terms
Standard payment terms is No purchase order No pay 30 Days SME, 40 Days Non SME
Were there any changes to the standard payment terms in the reporting period?
The current standard payment terms have been harmonised across the business in effect since August 2017 to No purchase order, No pay. Suppliers were formally notified in the necessary format.
Were suppliers notified or consulted about these changes before they were made?
When we changed payment terms supplier fully involved and formally notified in the necessary format.
Maximum contractual payment period agreed
45 days
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
The accounts payable helpdesk number and email address is printed on all correspondence to suppliers, any disputes are expected to be resolved within 30 days of the dispute being raised.
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.
Yes, this business has signed up to: Prompt payment code
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.
Yes
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