| 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 2019 - 30 Jun 2019 | 26 Nov 2019 | 10 | 99% | 1% | 0% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 13 Aug 2018 | 12 | 92% | 4% | 4% | 8% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 Days from Presentation of Invoice
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
If the person who should authorise the invoice disputes it in part or in full, they refer back to the invoicing entity to try to resolve the dispute. The dispute is also logged in the Accounts Payable department for follow up if not resolved in a timely manner.
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
Tradex Insurance Company Limited is a non-life insurance company registered in Essex. It underwrites general insurance, with its business classed under non-life insurance activities and specifically linked to motor vehicle cover. Evidence indicates it is a public limited company employing around 33 staff, with a controlling shareholder holding ordinary shares in the business. It operates from an office in Romford, Essex, and remains active on the Companies House register, having been incorporated in October 1994. The company is regulated in connection with insurance provision and appears in industry classifications for foreign insurance company representatives and general insurance companies, reflecting its role within the wider insurance sector.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · uk.globaldatabase.com