ACORN INSURANCE AND FINANCIAL SERVICES LIMITED
Company number: 01636368
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
23 January 2025
Approved by:
Kyle Tyrrell
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 17%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 4%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Acorn's standard payment terms are 30 days from date of receipt of a valid invoice, unless a different contractual payment period has been agreed in advance.
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
30 days from the end of the month
Any other information about payment terms
No further comment provided
Dispute resolution process
In the first instance, suppliers who have a query regarding an invoice should speak with their business contact who can liaise with the Accounts Payable team.
Alternatively, suppliers can contact the accounts payable team directly at accountspayable@acorninsure.com. We aim to respond to all payment queries sent to the AP mailbox within 24 hours.
If there is a dispute with goods or services received, this should be resolved directly between the relevant buyer within the business and the supplier.
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.
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