The data for AXA XL SYNDICATE LIMITED from 2018 to 2023 shows an increasing trend in the average time taken to pay invoices. In 2020, the company had an average time of 20 days, which increased to 33 days in 2021. However, there is a significant decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid between 31 and 60 days during the same period.
The data for AXA XL SYNDICATE LIMITED from 2018 to 2023 does not show significant volatility in terms of the average time taken to pay invoices. However, there is some volatility in the percentage of invoices paid within 30 days and between 31 and 60 days, with a sharp decrease in 2021 compared to 2020.
Looking at the data for the past three periods, there has been an increase in the average time taken to pay invoices for AXA XL SYNDICATE LIMITED. In 2020, the company had an average time of 20 days, which increased to 33 days in 2021. There was also a decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid between 31 and 60 days during this 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 | 26 Jan 2024 | |||||
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 26 Jan 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 27 Jul 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 27 Jan 2022 | |||||
| 01 Jan 2021 - 30 Jun 2021 | 27 Jul 2021 | |||||
| 01 Jul 2020 - 31 Dec 2020 | 27 Jan 2021 | 33 | 0% | 100% | 0% | 0% |
| 01 Jan 2020 - 30 Jun 2020 | 24 Jul 2020 | 20 | 100% | 0% | 0% | 0% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | |||||
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | |||||
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The Company’s standard payment terms for qualifying contracts are payment within 30 days of the date of the invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
All payment periods stated above run from the date of the invoice.
Maximum contractual payment period agreed
60
Suppliers should communicate any disputes or concerns to the business contact in the first instance. If the issue cannot be resolved at this level within a reasonable period, the issue will be escalated to senior management of the Company who will negotiate in good faith to resolve the dispute. If the dispute remains unresolved, more formal dispute resolution procedures shall be considered in accordance with contractual terms and/or the applicable law.
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
AXA XL Syndicate Limited is a leading insurance and reinsurance company based in London, United Kingdom. The company is a subsidiary of AXA XL, a global insurance and reinsurance provider.
The company offers a wide range of commercial insurance and reinsurance products and services to its clients. These include coverage for property, casualty, marine, aviation, and other specialty risks. Their products and services are designed to meet the diverse needs of businesses and organizations across various industries.
AXA XL Syndicate Limited has a strong commitment to sustainability and has implemented a sustainability program to minimize its impact on the environment. This includes reducing carbon emissions, promoting responsible investment practices, and supporting community initiatives.
The company is led by a team of experienced professionals, including CEO Matthew Gillies and Chairman Paul Jardine. They are committed to providing innovative and tailored solutions to their clients while upholding the highest standards of ethics and integrity.
For more information on AXA XL Syndicate Limited and its products and services, interested parties can visit their website at www.axaxl.com/syndicate. Their registered office address is 20 Gracechurch Street, London EC3V 0BG, United Kingdom.