The average time taken for EQUITABLE LIFE ASSURANCE SOCIETY,(THE) to pay invoices has remained consistent at 7 days over the past three periods.
The volatility in the time taken for EQUITABLE LIFE ASSURANCE SOCIETY,(THE) to pay invoices has been minimal, with an average of 7 days over the past three periods.
Overall, the time taken for EQUITABLE LIFE ASSURANCE SOCIETY,(THE) to pay invoices has remained consistent at 7 days over the past three periods.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 7 | 98% | 1% | 1% | 2% |
| 01 Jul 2018 - 31 Dec 2018 | 23 Jan 2019 | 7 | 99% | 1% | 0% | 1% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 7 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
We pay within the terms agreed with the individual suppliers according to the qualifying contracts.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
Any complaint or concern will be dealt with by the Finance Operations Team, who would liaise with the relevant department and supplier to resolve any issues as soon as possible. This is the most likely reason for any invoice ever being paid outside of agreed terms.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
The Equitable Life Assurance Society is a private unlimited company registered in England, incorporated in 1892 and classified under Companies House with the standard industrial classification for life insurance. It is recorded as an active company with its registered office in Aylesbury. The Companies House record lists its nature of business as life insurance, indicating that its registered function relates to life assurance activities. Beyond these registry details, including its incorporation date, company status and SIC classification, no further description of current trading operations, products or services is provided in the available evidence.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk