This information is as reported by the business, and responses are in their own words.
Standard payment terms
I. 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. Sunlife pay in line with contracted terms, in the vast majority of cases this is 30 days from the date of invoice. 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
Phoenix Wealth Services Limited is a UK-registered financial intermediation company, authorised and regulated by the Financial Conduct Authority. It previously traded as AXA Wealth Services Limited, Winterthur Pension Trustees UK Limited, Provident Life (Pension Trustees) Limited and Intercede 540 Limited before adopting its current name. Companies House records its nature of business as financial intermediation not elsewhere classified. It forms part of the wider Phoenix Group of companies, sitting alongside other regulated subsidiaries such as Phoenix Life Limited and Standard Life Fund Managers Limited, which together provide life assurance, pensions and wealth management services. This entity's own role is that of a regulated subsidiary within that corporate group rather than an independent trading business.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · thephoenixgroup.com