SCOTTISH WIDOWS SCHRODER PERSONAL WEALTH LIMITED
Company number: 11722983
Reporting period:
1 November 2020 to 31 December 2020
Report filed on:
28 January 2021
Approved by:
Joel Ripley
Payment statistics
Average time taken to pay invoices: 16 days
Invoices paid:
- within 30 days: 92%
- in 31 to 60 days: 8%
- in 61 days or more: 0%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Scottish Widows Schroder Personal Wealth agrees suitable terms of payment with suppliers on an individual basis for transaction and abides by those terms based on the correct submission of invoices
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
Since SPW's set up on the 1st of June 2019, we have received a transitional service agreement from Lloyds Banking Group plc for our accounts payable service. From the 1st of November 2020 we have moved to our own independent finance system and processes. The data in this report is therefore from the 1st of November 2020, prior to this our data will be included within the LBG statistics
Dispute resolution process
Suppliers can contact the dedicated accounts payable team finance@spw.com. Such contacts would seek to deal with any disputes promptly in accordance with the terms of the contract.
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.
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.
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