CHUBB SERVICES UK LIMITED
Company number: 01509033
1 January 2018
to 30 June 2018
This report was filed on 31 July 2018
and approved by Mark Hammond
Average time taken to pay invoices: 43 days
- within 30 days: 59%
- in 31 to 60 days: 23%
- in 61 days or more: 18%
Invoices due but not paid within agreed terms: 26 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Chubb standard contract terms are 45 days. However, approved invoices are generally paid as soon as they are received.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Any disputes are treated as confidential and referred to the Chubb Authorised Representative and Supplier Authorised Representative for resolution. The Representatives meet to resolve the dispute as soon as reasonably practicable and in any event within seven days of the referral.
If required, the dispute is then referred to the Managing Director of Chubb and the Managing Director of Supplier, who again meet to resolve the dispute as soon as reasonably practicable after referral and in any event within seven days of the referral.
If a dispute is not resolved within 35 days of the dispute first being referred to the Representatives then the Parties are entitled to begin legal proceedings in connection with the dispute or to settle the dispute through any other alternative dispute resolution procedure that the Parties may agree in relation to the dispute.
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?