The average time taken for JELF INSURANCE BROKERS LIMITED to pay invoices has been consistent at 32 days for the past three periods, with no data available for the most recent three periods. However, there has been a slight decrease in the percentage of invoices paid within 30 days, from 40% in the first period to 38% in the second period. This could suggest a slight delay in payment within this time frame. On the other hand, there has been an increase in the percentage of invoices paid between 31 and 60 days, from 60% to 62%, indicating a shift towards paying invoices closer to the agreed terms.
There is not enough data available to conduct a thorough volatility analysis. However, the fact that there is no data available for the past three periods could suggest a change in the company's payment practices or a delay in reporting the data.
For JELF INSURANCE BROKERS LIMITED, the average time taken to pay invoices has remained consistent at 32 days over the past three periods. However, there has been a slight decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid between 31 and 60 days. This could suggest a shift towards paying invoices closer to the agreed terms. The company has consistently paid 3% of its invoices later than 60 days, which is the shortest (or only) standard payment period.
| 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 2022 - 31 Dec 2022 | 27 Jan 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | |||||
| 01 Jan 2021 - 31 Dec 2021 | 28 Jan 2022 | |||||
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | |||||
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 25 Jul 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | |||||
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 32 | 40% | 60% | 0% | 3% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
For intra-group contracts our standard payment term is 45 days from receipt of invoice. This period reflects the normal course of dealing, as the Company does not currently enter into formal written terms for supplies from group companies.
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
45
Helpdesks and contact details as well as process information available on www.mmc.com
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
JELF INSURANCE BROKERS LIMITED is a leading insurance brokerage firm based in the United Kingdom. The company offers a wide range of insurance products and services to both individuals and businesses, with a strong focus on sustainability.
The sustainability program of JELF INSURANCE BROKERS LIMITED is aimed at reducing the environmental impact of their operations and promoting responsible business practices. They have implemented various measures such as paperless billing, energy-efficient office practices, and support for eco-friendly initiatives. The company also partners with sustainable insurers to offer environmentally friendly insurance options to their clients.
JELF INSURANCE BROKERS LIMITED offers a diverse range of insurance products, including property, liability, motor, and travel insurance. They also provide specialized insurance solutions for industries such as construction, healthcare, and hospitality. Their team of experienced brokers works closely with clients to understand their specific needs and provide tailored insurance solutions.
The key people at JELF INSURANCE BROKERS LIMITED include CEO Chris Jelf and Executive Chairman Phil Barton. Both have extensive experience in the insurance industry and are committed to driving the company's growth and sustainability efforts.
The company's website, www.jelf.com, provides detailed information about their services, products, and sustainability program. Their registered office address is 6th Floor, 25 Farringdon Street, London, EC4A 4AB. Clients can also contact them by phone at +44 (0) 345 040 0007 or email at info@jelf.com for any inquiries or assistance.