Published reports

PACIFIC LIFE RE SERVICES LIMITED

Company number: 02145545

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

Reporting period:

1 July 2024 to 31 December 2024

Report filed on:

29 January 2025

Approved by:

Myles Rix

Payment statistics

Average time taken to pay invoices: 12 days

Invoices paid:

  • within 30 days: 83%
  • in 31 to 60 days: 10%
  • in 61 days or more: 7%

Late and disputed:

  • payments due in the reporting period which have not been paid within the agreed period: 0%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

90 days

Standard payment terms

PLRS negotiates payment terms with vendors on a contract by contract basis, with the majority of contracts having a 30-day payment term.

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

90 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

PL Re strives to resolve all disputes fairly and promptly by encouraging the parties involved to reach a mutually acceptable agreement through direct discussions.

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.

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