CHUBB SERVICES UK LIMITED
Company number: 01509033
1 July 2020
to 31 December 2020
This report was filed on 25 January 2021
and approved by Miriam Connole
Average time taken to pay invoices: 6 days
- within 30 days: 85%
- in 31 to 60 days: 7%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 10 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Chubb Standard contract terms are 45 days (both long form and short form agreements). However, approved invoices are generally paid as soon as they are received
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
All disputes shall be referred to the Chubb Authorised Representative and Supplier Authorised Representative (together, Representatives) for resolution. The Representatives shall meet to resolve the dispute as soon as reasonably practicable after referral and in any event within seven (7) days of such referral.
If a dispute is not resolved within seven (7) days of the dispute being referred to the Representatives for resolution, then the dispute shall be referred to the Managing Director of Chubb and the Managing Director of Supplier. The Managing Directors shall meet to resolve the dispute as soon as reasonably practicable after referral and in any event within seven days of such referral.
If a dispute is not resolved within 35 days of the dispute first being referred to the Representatives for resolution then the Parties shall be entitled to commence legal proceedings in connection with the dispute or to settle the dispute through any other alternative dispute resolution procedure that the Parties may agree in relation to the dispute.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?