Industry ranking
Score of 98.2/100 qualifies for PaymentCheck Certification
The data for ARCHITAS LIMITED shows a consistent trend of decreasing average time to pay invoices and increasing percentage of invoices paid within 30 days. There was a significant improvement in the average time to pay from 2018 to 2021, with a decrease of 14 days. This trend continued in the most recent period, with a further decrease of 1 day. Similarly, the percentage of invoices paid within 30 days has steadily increased from 89% in 2018 to 97% in 2022.
The data for ARCHITAS LIMITED shows a relatively stable trend with low volatility in the average time to pay and the percentage of invoices paid within 30 days. However, there was a slight increase in volatility in the percentage of invoices paid between 31 and 60 days, with a high of 7% in the first period and a low of 3% in the most recent 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 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | 6 | 97% | 3% | 0% | 3% |
| 01 Jul 2021 - 30 Dec 2021 | 28 Jan 2022 | 8 | 92% | 7% | 1% | 8% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 7 | 96% | 3% | 1% | 4% |
| 01 Jul 2020 - 31 Dec 2020 | 25 Jan 2021 | 8 | 94% | 3% | 3% | 6% |
| 01 Jan 2020 - 30 Jun 2020 | 23 Jul 2020 | 13 | 92% | 7% | 1% | 8% |
| 01 Jan 2018 - 30 Jun 2018 | 23 Jul 2018 | 21 | 89% | 7% | 4% | 41% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard contractual terms for goods and services is 30 days. Invoices for which no payment is required because they are covered completely by credit notes would not count as a payment for the purposes of the statistics about payments made (i.e. the average time taken to pay and the proportion paid within 30/60/61+ days), or payments due in the reporting period and the proportion of these paid within the agreed payment period.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
60 day payment terms have been agreed with one of AXA Services Limited’s suppliers. The settlement period per the third party’s standard terms and conditions.
Maximum contractual payment period agreed
60
Any question or difference which may arise concerning the creation, construction, meaning, validity or effect of this Agreement, or any matter arising out of or in connection with this Agreement, shall in the first instance be referred to the AXA Representative and the Supplier Representative for discussion and resolution as soon as reasonably possible and, in any event, within fifteen (15) days of such referral. If the matter is not resolved at this meeting, the dispute shall be escalated to the chief executive officer (or equivalent management position) of the parties as soon as reasonably possible and, in any event, within a further fifteen (15) days. If the unresolved matter is having a serious effect on the Services, the parties shall use reasonable endeavours to reduce the elapsed time in completing the process. Neither party may initiate any legal action until the process has been completed, unless such party has reasonable cause to do so to avoid damage to its business or to protect or preserve any right of action it may have. Any dispute which is not resolved after being escalated by the parties under Clause 39.2 may, at the request of either party to the other (the "Request"), be referred to mediation in accordance with the Centre for Dispute Resolution Mediation Procedure as follows:- - the mediation shall be conducted by a single mediator who shall be appointed by agreement in writing between the parties or, if the parties are unable to agree on the identity of the mediator within five (5) Business Days after the date of the Request, or if the mediator nominated by the parties for appointment is or becomes unable or unwilling to act, the mediator shall be appointed by the Centre for Dispute Resolution on the application of either party; - the mediation shall be conducted in London and in the English language; - save for the purposes of implementing and/or enforcing a written legally binding settlement agreement or as otherwise required by law, the mediation shall be conducted without prejudice to the rights of the parties in any future proceedings; and - the costs of the mediation, including the fees and expenses of the mediator (but excluding the parties' own costs, which shall be borne by the party incurring those costs), shall be borne equally by the parties, unless otherwise agreed in writing in the settlement agreement. If a dispute is referred to mediation then, unless both parties have accepted the decision of the mediator or otherwise agreed to resolve the dispute, within twenty eight (28) days of the final decision of the mediator having been delivered to the parties, the Dispute Resolution Procedure shall be deemed exhausted in respect of the dispute in question.
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
ARCHITAS LIMITED is an active private limited company, incorporated on 16 August 1991, based in the London region. Registered business activity: Activities of financial services holding companies; Activities of head offices.
From Companies House records.