Published reports

CHUBB SERVICES UK LIMITED

Company number: 01509033

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

Reporting period:

1 January 2018 to 30 June 2018

Report filed on:

31 July 2018

Approved by:

Mark Hammond

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

within 30 days: 59%
in 31 to 60 days: 23%
in 61 days or more: 18%

Late and disputed:

payments due in the reporting period which have not been paid within the agreed period: 26%

Payment terms

Shortest standard payment periods

1 days

Longest standard payment period

45 days

Standard payment terms

Chubb standard contract terms are 45 days. However, approved invoices are generally paid as soon as they are received.

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

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

45 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

Any disputes are treated as confidential and referred to the Chubb Authorised Representative and Supplier Authorised Representative for resolution. The Representatives meet to resolve the dispute as soon as reasonably practicable and in any event within seven days of the referral. If required, the dispute is then referred to the Managing Director of Chubb and the Managing Director of Supplier, who again meet to resolve the dispute as soon as reasonably practicable after referral and in any event within seven days of the referral. If a dispute is not resolved within 35 days of the dispute first being referred to the Representatives then the Parties are entitled to begin legal proceedings in connection with the dispute or to settle the dispute through any other alternative dispute resolution procedure that the Parties may agree in relation to the dispute.

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.

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?