EULER HERMES SERVICES UK LIMITED
Company Information
- Company Number
- 03376459
- Registered Address
- 1 Canada Square, London, E14 5DX
- Status
- Active
- Employee Count
- 303.0
- Turnover
- 63979000.0
- EBITDA
- 4461000.0
Additional Details
- Website
- https://eulerhermes.co.uk
- Company Type
- Private limited Company
- Incorporated On
- 27 May 1997
- Nature of Business
- 66290 - Other activities auxiliary to insurance and pension funding$78300 - Human resources provision and management of human resources functions
- Industries
- Financial Services,Professional Services
- Region
- London
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| 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 | 01 Feb 2024 | 21 | 96% | 3% | 1% | 5% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 16 | 93% | 6% | 1% | 7% |
| 01 Jul 2022 - 31 Dec 2022 | 31 Jan 2023 | 14 | 94% | 6% | 0% | 6% |
| 01 Jan 2022 - 30 Jun 2022 | 26 Jul 2022 | 12 | 96% | 4% | 0% | 4% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 21 | 85% | 9% | 6% | 16% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 11 | 97% | 3% | 0% | 3% |
| 01 Jul 2020 - 31 Dec 2020 | 19 Jan 2021 | 14 | 93% | 6% | 1% | 7% |
| 01 Jan 2020 - 30 Jun 2020 | 31 Jul 2020 | 12 | 96% | 3% | 1% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 12 Feb 2020 | 11 | 95% | 4% | 1% | 4% |
| 01 Jan 2019 - 30 Jun 2019 | 31 Jul 2019 | 15 | 97% | 2% | 1% | 3% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 9 | 97% | 2% | 1% | 4% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 16 | 96% | 3% | 1% | 4% |
Company Summary
EULER HERMES SERVICES UK LIMITED is a global leader in credit insurance, trade risk management, and collections services
The company was founded in 1998 and is headquartered in London, United Kingdom
Their main focus is to help businesses manage their trade risks and protect their cash flow through a range of products and services
Their sustainability program is centered around responsible and ethical business practices, with a focus on reducing their environmental impact and promoting social responsibility
EULER HERMES SERVICES UK LIMITED offers a variety of products and services, including credit insurance, which protects businesses against non-payment from their customers; surety bonds, which provide financial guarantees to support commercial transactions; and collections services, which help businesses recover unpaid debts
They also offer risk management solutions to help businesses identify and mitigate potential risks in their trade activities
The company has a team of experienced professionals, including key people such as James Daly, the CEO of EULER HERMES SERVICES UK LIMITED, and Pierre Maillard, the Chief Financial Officer
They have a strong presence in the UK, with over 300 employees and a network of partners and agents across the country
Their website, www.eulerhermes.co.uk, provides information about their products and services, as well as resources and tools for businesses to manage their trade risks
The registered office address for EULER HERMES SERVICES UK LIMITED is at 1 Canada Square, Canary Wharf, London, E14 5DX, United Kingdom
In conclusion, EULER HERMES SERVICES UK LIMITED is a reputable company that offers valuable products and services to help businesses manage their trade risks
Their sustainability program and focus on responsible business practices make them a reliable and ethical partner for businesses in the UK and around the world
Company Review
Trend Analysis
The trend for EULER HERMES SERVICES UK LIMITED's average time to pay invoices has been fluctuating between 9 and 21 days over the past three years. However, there has been a slight increase in the average time to pay in the most recent period, from 11 days in 2021 to 21 days in 2024.
Volatility Analysis
The volatility of EULER HERMES SERVICES UK LIMITED's average time to pay invoices has been relatively low, with the largest change being an increase of 9 days in 2024 compared to the previous year.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Most of the company's suppliers insist on using their own standard terms and conditions; the most common payment terms are 30 days from date of invoice. In most cases, the company will incorporate/ agree to payment terms of 30 days from either date of invoice or date of receipt of invoice. In addition to other remedies available to a supplier, as a consequence of late payment by Euler Hermes, the contract will usually give the supplier the right to charge interest, at the daily rate specified therein, on the overdue sum from the due date until the date on which payment is made (whether it is before or after judgment).
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Dispute Resolution Process
In all cases, the company will ensure that the supplier has a usual contact within the Euler Hermes department involved in negotiating the contract in question, who will act as the first point of contact for all matters and issues that arise in connection with that contract. For contracts with key suppliers, the company incorporates a staged escalation procedure for the resolution of disputes between the parties, before any litigation or other alternative dispute resolution procedure can be commenced. Usually, the contract will require that a party should provide written notice of any disputed matter arising under the contract to the other party, following which specified individuals from each party will attempt to resolve the dispute within a set period (between 14 - 30 days). In the first instance, negotiations will often take place between a primary contact/manager at Euler Hermes and the account manager/executive for the supplier. If they are unable to resolve the dispute then the matter is escalated in stages to individuals of increasing seniority for each party; for Euler Hermes this will be the head of the relevant function/department, followed by the CEO. Failure by the parties to resolve the dispute using the escalation procedure entitles either party to commence litigation or other dispute resolution procedure stipulated in the contract.
Other Payment Information
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
