Score of 87.2/100 qualifies for PaymentCheck Certification
The data shows a trend of improvement in the average time taken for ABRDN LIFE AND PENSIONS LIMITED to pay invoices to suppliers. In the first period (Jan 2021 - June 2021), the average time to pay was 32 days, which decreased to 38 days in the second period (July 2021 - Dec 2021) and further decreased to 26 days in the third period (Jan 2022 - June 2022). This indicates that the company is making efforts to pay invoices to suppliers in a timely manner.
The data also shows a decrease in the percentage of invoices paid later than 60 days in each period, indicating a decrease in volatility in the time taken to pay invoices. In the first period, 14% of invoices were paid later than 60 days, which decreased to 7% in the second period and further decreased to 12% in the third period.
In the first period (Jan 2021 - June 2021), ABRDN LIFE AND PENSIONS LIMITED had an average time to pay of 32 days, with 86% of invoices paid within 30 days and 14% of invoices paid later than 60 days. In the second period (July 2021 - Dec 2021), the average time to pay increased to 38 days, but the percentage of invoices paid within 30 days increased to 93% and the percentage of invoices paid later than 60 days decreased to 7%. In the third period (Jan 2022 - June 2022), the average time to pay decreased to 26 days, with 88% of invoices paid within 30 days and 12% of invoices paid later than 60 days.
| 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 | 31 Jul 2022 | 26 | 88% | 0% | 12% | 12% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 38 | 93% | 0% | 7% | 7% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 32 | 86% | 0% | 14% | 14% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days
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
60
DISPUTES Any dispute relating to the interpretation of, arising out of, relating to or in connection with the Agreement will be referred in the first instance to a member of abrdn's senior management and a director of the supplier for resolution.
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
ABRDN LIFE AND PENSIONS LIMITED is an active private limited company, incorporated on 6 March 1998, based in the London region. Registered business activity: Pension funding.
From Companies House records.