Industry ranking
The average time to pay for CHARLES TAYLOR ADJUSTING LIMITED has fluctuated over the past three periods, with a decrease in 2020 followed by an increase in 2021. However, the trend seems to be going back down in 2022 and 2023.
The volatility of the average time to pay for CHARLES TAYLOR ADJUSTING LIMITED has been quite high, with a significant decrease in 2020 and a sharp increase in 2021. This indicates that the company's payment practices have been inconsistent and may require more attention.
In the past three periods, CHARLES TAYLOR ADJUSTING LIMITED has seen a decrease in their average time to pay from 47 days in 2019 to 23 days in 2021. This was mainly due to an increase in the percentage of invoices paid within 30 days and a decrease in the percentage of invoices paid later than 60 days.
| 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 2024 - 30 Jun 2024 | 14 Aug 2024 | 109 | 34% | 39% | 27% | 41% |
| 01 Jan 2023 - 30 Jun 2023 | 15 Aug 2023 | 75 | 2% | 46% | 52% | 97% |
| 01 Jul 2022 - 31 Dec 2022 | 01 Feb 2023 | 52 | 60% | 15% | 25% | 33% |
| 01 Jan 2022 - 30 Jun 2022 | 01 Feb 2023 | 51 | 58% | 18% | 24% | 31% |
| 01 Jul 2021 - 31 Dec 2021 | 01 Feb 2022 | 23 | 82% | 9% | 9% | 13% |
| 01 Jan 2021 - 30 Jun 2021 | 02 Aug 2021 | 23 | 82% | 9% | 9% | 13% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 37 | 71% | 12% | 17% | 8% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 56 | 62% | 25% | 13% | 13% |
| 01 Jan 2019 - 30 Jun 2019 | 02 Sept 2019 | 47 | 57% | 18% | 25% | 6% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 days from the invoice date
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
Due to the nature of the business the statistics exclude invoices that are paid on “pay-when-paid” basis
Maximum contractual payment period agreed
60
The dispute will be managed by the relevant budget holder. Legal advice/action would be obtained if necessary
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
Charles Taylor Adjusting Limited is a UK subsidiary within the Charles Taylor Group, a global insurance services business. The wider group provides loss adjusting, claims handling, third-party administration, assistance and technology services to insurers, brokers and other parties across the global insurance market, alongside insurance management and InsureTech solutions. Charles Taylor Adjusting Limited operates as part of the group's Claims Solutions business, supporting adjusting and technical claims work. The Charles Taylor Group traces its origins to 1884 and is owned by funds managed by Lovell Minnick Partners, having been delisted from the London Stock Exchange in 2019 following acquisition. The group employs around 4,000 people across more than 100 country locations.
Generated from the company's website and Companies House records. Sources: charlestayloradj.com · charlestayloradj.com