BETA This is a new service – your feedback will help us to improve it.

QBE MANAGEMENT SERVICES (UK) LIMITED

Company number: 03153567

Reporting period:
1 January 2018 to 30 June 2018

---

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

This report was filed on 30 July 2018

and approved by David Winkett

Payment statistics

Average time taken to pay invoices: 44 days

Invoices paid:

• within 30 days: 64%
• in 31 to 60 days: 18%
• in 61 days or more: 18%

Invoices due but not paid within agreed terms: 36 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

30 days

Standard payment terms

30 days from receipt of invoice

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

No

Maximum contractual payment period agreed

30 days

None

Any other information about payment terms

With regard to the figure stated for "Percentage of invoices not paid within agreed terms" we have assumed and recorded the worst potential amount rather than applying an average. At present our payment reporting information does not separately record agreed terms in an manner that would readily enable us to generate the requested figure. However, system updates are planned to enable this to be reported for the next return.

Dispute resolution process

We have defined escalation points within our standard supplier contracts for dealing with disputes that arise under the contract. This would include disputes regarding invoices and payment terms. However, we do not have a standard formal dispute resolution process beyond this escalation.

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.

No

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.

Yes

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