FIL PENSIONS MANAGEMENT
Company number: 02015142
Reporting period:
1 January 2021 to 30 June 2021
Report filed on:
30 July 2021
Approved by:
Steven Edgely
Payment statistics
Average time taken to pay invoices: 42 days
Invoices paid:
- in 31 to 60 days: 100%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 100%
Payment terms
Shortest standard payment periods
60 days
Longest standard payment period
Answer not provided
Standard payment terms
The Company’s standard contractual payment terms for all qualifying contracts are payments within 60 days after invoice receipt date and they are the maximum payment terms the Company has with suppliers. Other payment terms may apply after negotiation with suppliers without ever exceeding above mentioned maximum payment terms. The agreed payment terms are subsequently reflected in our contractual documentation and accounting system. There were no changes to standard payment terms in the reporting period.
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
60 days
No further comment provided
Any other information about payment terms
FIL Investment Management Limited ("FIML") is the main payment company for the FIL Holdings (UK) Limited consolidated group. FIL Pensions Management made one qualifying payment during the period of which one payment was after the due date. The statistics for FIML are more representative of the payment performance of the UK group.
Dispute resolution process
Invoices should be submitted in PDF format to invoices.fidelity@fil.com; any supplier communications including dispute or concern matters should be sent in the first instance to p2p.uk@fil.com. The supplier and the Company shall use all reasonable endeavours to discuss and resolve any payment dispute. If the parties cannot resolve the dispute within five working days, the dispute shall be referred in the second instance to the immediate manager for discussion and in the third instance to a Senior officer of 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 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