PRUDENTIAL HOLDINGS LIMITED
Company number: SC210546
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
27 July 2018
Approved by:
David Martin
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 52%
- in 31 to 60 days: 34%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 40%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
The Company shall pay an invoice within 45 days of receipt of invoice unless otherwise provided in the “Schedule of Pricing and Payment” or the applicable “Statement of Work” stipulated in the PHL standard contract terms and conditions.
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
45 days
No further comment provided
Any other information about payment terms
Prudential Holdings Limited is an intermediate holding company within the Prudential plc group of companies. The standard payment terms apply to invoices from other companies within the Prudential plc group, which represent a significant proportion of the qualifying contracts of the company, as well as those from external suppliers.
Dispute resolution process
Schedule of Governance Structure stipulated in the PHL standard contract terms and conditions provides that in the event of a dispute, an authorised officer of Supplier or the Company may escalate such dispute for resolution between the parties. The authorised officer shall submit a written request to the Service Review Group (with a copy provided to an authorised officer of the other party) giving reasonably sufficient details of the dispute and providing a full description of any remediation efforts or activities that each party has taken to remedy or resolve the Dispute. Such request shall also contain sufficient details for the other party to assess the dispute and whether sufficient action has been taken by it to remedy or rectify such 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 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