The average time to pay for BLUEFIN INSURANCE SERVICES LIMITED has remained consistent at 46 days from 2018 to 2020. However, there has been a slight increase in the percentage of invoices paid within 30 days and a decrease in the percentage of invoices paid between 31 and 60 days. The percentage of invoices paid later than 60 days has also decreased over the three periods.
There is minimal volatility in the average time to pay for BLUEFIN INSURANCE SERVICES LIMITED as it has remained at 46 days for all three periods. However, there has been a slight increase in the volatility of the percentage of invoices paid within 30 days and a decrease in the volatility of the percentage of invoices paid between 31 and 60 days. The volatility of the percentage of invoices paid later than 60 days has also decreased over the three periods.
From 2018 to 2020, BLUEFIN INSURANCE SERVICES LIMITED has maintained an average time to pay of 46 days. There has been a slight improvement in the percentage of invoices paid within 30 days and a decrease in the percentage of invoices paid between 31 and 60 days. The percentage of invoices paid later than 60 days has also decreased over the 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 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 | 46 | 18% | 67% | 15% | 15% |
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
BLUEFIN INSURANCE SERVICES LIMITED is a liquidation private limited company, incorporated on 13 May 1968, based in the North West region. Registered business activity: Non-life insurance.
From Companies House records.