AIG EUROPE (SERVICES) LIMITED demonstrates a primary payment trend of 64% within 30 days, but a substantial 32% extends to the 31-60 day period, resulting in an average payment time of 38 days. This indicates that while prompt payments are common, suppliers should anticipate a trajectory that frequently extends beyond standard 30-day terms.
Payment reliability is generally high given only 4% of payments exceed 60 days and the late payment rate is a low 3%. While 32% of payments fall into the 31-60 day range, introducing some variability to cash flow timing, extreme delays or non-payment risk factors are minimal.
Suppliers can consider AIG EUROPE (SERVICES) LIMITED a moderately reliable payer, but should primarily factor in the 38-day average payment time for cash flow planning. Key decision factors involve preparing for the common 31-60 day payment window, though the low late payment percentage minimizes significant financial risk. Proactive invoicing and potential negotiation of early payment discounts could mitigate extended waiting 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 2025 - 30 Jun 2025 | 31 Jul 2025 | 38 | 64% | 32% | 4% | 3% |
| 01 Jul 2024 - 31 Dec 2024 | 30 Jan 2025 | 32 | 68% | 29% | 3% | 18% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 31 | 72% | 26% | 2% | 21% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payments made daily on accounts payable run.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
90
All queries are sent to our offshore processing team in India for resolution. Any that can not be resolved by this team are escalated to the AIG UK Expense Controller for review and liason with the suppliers and AIG business contacts.
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
AIG EUROPE (SERVICES) LIMITED is an active private limited company operating within the services sector.
Incorporated on 17 July 1953, the company holds UK company number 00521852. Its registered office is located in London at The Aig Building, 58 Fenchurch Street, EC3M 4AB.
As a private limited company with 'Services' in its name, this type of organisation typically specialises in providing business support and operational services. These services are crucial for the efficient functioning of a larger corporate entity or group, often involving administrative or management support functions within the UK market.