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INSIGHT INVESTMENT SERVICES LIMITED

Company number: 04471826

Reporting period:
1 July 2018 to 31 December 2018

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

This report was filed on 23 January 2019

and approved by Atul Manek

Payment statistics

Average time taken to pay invoices: 44 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: 37 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Our most frequently used payment terms for qualifying contracts require payment within 30 days

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

If there is a dispute relating to an invoice or a payment, we will work with the supplier to resolve the issue in a fair and timely manner. Disputes are resolved by discussion and agreement and are typically handled by the member of staff that holds the relationship with the supplier, in conjunction with the Procurement/Legal function (as required), and resolved in accordance with the terms of the contract. Invoices that are subject to dispute will not be paid until resolution. Once resolved, payment will be made in accordance with the terms of the contract.

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

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