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PRUDENTIAL HOLDINGS LIMITED

Company number: SC210546

Reporting period:
1 January 2024 to 30 June 2024

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

This report was filed on 29 July 2024

and approved by Gwyn Thomas

Payment statistics

Average time taken to pay invoices: 35 days

Invoices paid:

  • within 30 days: 65%
  • in 31 to 60 days: 19%
  • in 61 days or more: 16%

Invoices due but not paid within agreed terms: 24%

Payment terms

Shortest standard payment periods

45 days

Longest standard payment period

Answer not provided

Standard payment terms

Prudential Holdings Limited shall pay an invoice within 45 days of receipt of invoice unless otherwise provided in the “Schedule of Pricing and Payment” or the applicable “Statement of Work” stipulated in the Prudential Holdings Limited standard contract terms and conditions.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

45 days

No further comment provided

Any other information about payment terms

Prudential Holdings Limited is an intermediate holding company within the Prudential plc group of companies. The standard payment terms apply to invoices from other companies within the Prudential plc group, which represents a significant proportion of the qualifying contracts of Prudential Holdings Limited, as well as those from external suppliers.

Dispute resolution process

Schedule of Governance Structure stipulated in the Prudential Holdings Limited standard contract terms and conditions provides that in the event of a dispute, an authorised officer of Supplier or Prudential Holdings Limited may escalate such dispute for resolution between the parties. The authorised officer shall submit a written request to the Service Review Group (with a copy provided to an authorised officer of the other party) giving reasonably sufficient details of the dispute and providing a full description of any remediation efforts or activities that each party has taken to remedy or resolve the Dispute. Such request shall also contain sufficient details for the other party to assess the dispute and whether sufficient action has been taken by it to remedy or rectify such 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.

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.

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