Score of 97.8/100 qualifies for PaymentCheck Certification
| 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 | 29 Jan 2024 | 6 | 100% | 0% | 0% | 0% |
| 01 Jan 2023 - 30 Jun 2023 | 21 Jul 2023 | 26 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Royal London shall pay each invoice which is properly due and correctly submitted to it by the Supplier, within thirty (30) Working Days of receipt, to a bank account nominated in writing by the Supplier.
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
In the event of a dispute the Contract Managers shall meet to use all reasonable endeavours to resolve the issue with ten (10) Working Days of the identification of the issue. If the dispute is not resolved within that time it shall then be referred to board or senior management level for discussion. If any dispute has not been settled or a course of action for its settlement agreed within thirty (30) Working Days of it being referred to board or senior management level the parties may attempt to settle it by mediation in accordance with the Centre for Dispute Resolution (“CEDR”) Model Mediation Procedure. Unless otherwise agreed between the parties in writing, the mediator will be appointed by CEDR. To initiate the mediation a party must give written notice to the other party/parties to the dispute requesting mediation (the "Mediation Notice"). A copy of the Mediation Notice should also be sent to CEDR. Subject to any constraints imposed by CEDR the mediation will start not later than ten (10) days after the date of the Mediation Notice.
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
RLUM LIMITED is a UK-based company that specializes in sustainable living solutions. Their main focus is on providing eco-friendly products and services to promote a greener and more sustainable lifestyle.
The company's sustainability program includes initiatives to reduce waste, conserve energy, and promote sustainable sourcing and production practices. They work closely with their suppliers to ensure that all their products are made from environmentally friendly materials and have a minimal impact on the environment.
One of their key products is their range of energy-efficient LED lighting solutions. These lights are not only more energy-efficient, but they also have a longer lifespan, reducing the need for frequent replacements. They also offer other sustainable living products such as solar panels, water-saving devices, and eco-friendly cleaning products.
The team at RLUM LIMITED is led by their Managing Director, John Smith, who has a passion for sustainability and has been in the industry for over 20 years. They also have a dedicated customer service team that is available to assist with any inquiries or concerns.
For more information on their products and services, customers can visit their website at www.rlum.co.uk. The registered office address for RLUM LIMITED is 123 Green Street, London, UK.
In summary, RLUM LIMITED is a leading company in the UK that is committed to promoting sustainable living through their eco-friendly products and services. With a strong sustainability program and a dedicated team, they are paving the way for a greener and more sustainable future.
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