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Company number: 01451456

Reporting period:
1 January 2021 to 30 June 2021

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

This report was filed on 29 July 2021

and approved by Richard Goff

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

Invoices due but not paid within agreed terms: 36 %

Payment terms

Standard payment period for qualifying contracts

45 days

Standard payment terms

The Company’s standard contractual payment terms for all qualifying contracts are no later than 45 days after the receipt of an invoice. Other payment terms may apply. Agreed payment terms are reflected in our contractual documentation and accounting system.

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


Maximum contractual payment period agreed

45 days

Any other information about payment terms

Although the payment period under the Company’s standard payment terms runs from the date of receipt of the relevant invoice, for the purpose of calculating the metrics for this report, we have taken the date stated on the invoice itself as the commencement date for the payment period, and the statistics are reported against this measure. Consequently, it is likely that the statistics will show a greater level of late payments than is actually the case if strictly applying the standard payment terms.
Of the 36% of invoices due but not paid within agreed terms, 0.4% were made to companies within the Willis Towers Watson Group and 99.6% were made to companies external to the Willis Towers Watson Group.

Dispute resolution process

Payment processing is managed by the Accounts Payable function and any supplier queries are actioned by that team. In the event they are unable to resolve the matter, the query will be discussed between the supplier and relevant colleague to ensure satisfactory resolution for both the supplier and the Company.

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?