ROTHESAY LIFE PLC

Company number: 06127279

Reporting period:
1 January 2021 to 30 June 2021

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

This report was filed on 23 July 2021

and approved by Andrew Stoker

Payment statistics

Average time taken to pay invoices: 12 days

Invoices paid:

within 30 days: 96%
in 31 to 60 days: 3%
in 61 days or more: 1%

Invoices due but not paid within agreed terms: 7%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

30 days

Standard payment terms

Rothesay does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations although we do encourage all third party owners to agree payment terms that are 28 days or more. Although we are aware this may not always be possible

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

30 days

Any other information about payment terms

Dispute resolution process

Disputes are resolved by negotiation by involving the third party, third party owner and accounts payable

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.

Yes, this business has signed up to: Prompt payment code

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.

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?