TYSERS INSURANCE BROKERS LIMITED
Company number: 02957627
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
27 February 2025
Approved by:
Andrew Kendrick
Payment statistics
Average time taken to pay invoices: 40 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 10%
- in 61 days or more: 9%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 66%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
30 days
Standard payment terms
Standard Payment Terms: The Group does not impose specific payment terms on suppliers. Instead, we aim to pay invoices within the terms of our suppliers however 30 days is generally requested with suppliers where possible. Maximum Payment Terms: The maximum terms of our suppliers are 30 days. Payment Terms Changes: Any changes of supplier payment terms are communicated by the suppliers to Tysers Insurance Brokers Limited.
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
25.85% of suppliers having immediate payment terms, the result is there is a significant number of invoices which would not be paid on time.
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disputes are promptly dealt with between the firms accounts payable function and the relevant business owners.
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