Score of 80.6/100 qualifies for PaymentCheck Certification
The trend for Marsh Limited's average time to pay invoices has fluctuated over the past three periods, with a decrease in 2019, followed by an increase in 2020 and then a decrease again in 2021. The percentage of invoices paid within 30 days has consistently been high, with a slight decrease in 2021. The percentage of invoices paid between 31 and 60 days has also remained consistent, while the percentage of invoices paid later than 60 days has consistently been low.
The volatility of Marsh Limited's average time to pay invoices has been relatively low, with small fluctuations between periods. The percentage of invoices paid within 30 days has also shown low volatility, while the percentage of invoices paid between 31 and 60 days and later than 60 days has remained consistent.
Between 2018 and 2021, Marsh Limited has shown a significant improvement in their average time to pay invoices, decreasing from 55 days to 10 days. This is a decrease of 45 days or 81.8%. The percentage of invoices paid within 30 days has consistently been high, with an average of 80%, while the percentage of invoices paid between 31 and 60 days has remained consistent at an average of 20%. The worst period for Marsh Limited was in 2022, where they paid 75% of their invoices later than 60 days. However, this was also the period where they showed the most improvement in paying invoices within their agreed terms, with a decrease of 75% from the previous 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 2023 - 31 Dec 2023 | 30 Jan 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 26 | 75% | 25% | 0% | 25% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 13 | 100% | 0% | 0% | 0% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 31 | 25% | 75% | 0% | 75% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 10 | 100% | 0% | 0% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 22 | 80% | 20% | 0% | 0% |
| 01 Jul 2020 - 31 Dec 2020 | 28 Jan 2021 | 30 | 33% | 67% | 0% | 0% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 32 | 0% | 100% | 0% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 22 | 100% | 0% | 0% | 0% |
| 01 Jan 2019 - 30 Jun 2019 | 25 Jul 2019 | 34 | 0% | 100% | 0% | 0% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 20 | 60% | 40% | 0% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 55 | 39% | 44% | 17% | 31% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 days from receipt of invoice. http://www.mmc.com/suppliers.html
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Marsh Limited is a UK registered company incorporated in 1980, classified under insurance agency and brokerage activities. It operates from London and trades as Echelon Claims Consultants, providing specialist claims handling services within the London and international insurance and reinsurance markets. The team focuses on managing large and complex losses on behalf of policyholders across various industries, drawing on direct experience of major claim settlement. The company remains active on the Companies House register, with its registered office in the City of London.
Generated from the company's website and Companies House records. Sources: echelonccl.com