| 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 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 37 | 30% | 70% | 0% | 30% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 53 | 45% | 25% | 30% | 55% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 67 | 33% | 46% | 20% | 66% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The business' standard payment terms are for all undisputed invoices to be paid within 30 days of receipt. The maximum contractual payment period is 30 days from the receipt of an invoice and there have been no changes to the business' standard payment terms in the reporting period. We will agree to shorter terms if the contractual negotiations require it.
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
Phoenix has a dispute resolution process for staff to follow should a query or dispute of an invoice arise, which is published on the intranet. The dispute resolution process is supplemented from a supplier facing perspective with the relevant contractual provisions for invoice query, escalation and dispute processes.
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
Abbey Life Assurance Company Limited is a UK-registered life insurance company, incorporated in 1961 and based in Birmingham. Its registered SIC classification is life insurance. Companies House records show it as an active private limited company, part of a wider corporate group with its ultimate parent recorded separately under a different legal entity. Historical filings link it to Pearl Group Secretariat Services Limited, indicating its administration sits within a larger financial services group structure. No product or customer-facing description is provided beyond its regulatory classification as a life insurer, and the evidence does not detail specific policies, brands or services offered.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · lei.bloomberg.com