Published reports

SCOTTISH WIDOWS SCHRODER PERSONAL WEALTH LIMITED

Company number: 11722983

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

Reporting period:

1 July 2021 to 31 December 2021

Report filed on:

28 January 2022

Approved by:

Joel Ripley

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Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 86%
• in 31 to 60 days: 11%
• in 61 days or more: 3%

Late and disputed:

• payments due in the reporting period which have not been paid within the agreed period: 23%

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 differentiation, contractual period agreed per supplier.

Any other information about payment terms

SPW has moved to its own independent finance system and processes.

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