The trend for ENDURANCE WORLDWIDE INSURANCE LIMITED over the past three periods shows an increase in the average time taken to pay invoices. In the first period (Jan 2018 - Jun 2018), the average time to pay was 26 days, which increased to 36 days in the second period (Jul 2018 - Dec 2018). However, no data is available for the third period (Jan 2019 - Jun 2019) so no comparison can be made.
The volatility for ENDURANCE WORLDWIDE INSURANCE LIMITED over the past three periods shows a slight increase in the percentage of invoices paid within 30 days, from 76% in the first period to 69% in the second period. The percentage of invoices paid between 31 and 60 days also increased from 15% to 18%, while the percentage of invoices paid later than 60 days increased from 9% to 13%. The percentage of invoices not paid within agreed terms also increased from 15% to 31%.
| 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 | 30 Jul 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 36 | 69% | 18% | 13% | 31% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 26 | 76% | 15% | 9% | 15% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
In most cases payment are determined by the supplier, and in all cases the Company seeks to make payments in accordance with these terms. For all types of qualifying contracts the most frequently used payment period is 30 days. In the absence of supplier payment terms, the Company aims to settle invoices within 30 days or less of receipt of a correct, undisputed and properly due VAT invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
n/a
Maximum contractual payment period agreed
30
The Company is committed to resolving disputes in a fair and timely manner. Disputes are resolved by discussion and agreement with the supplier and are typically managed by Accounts Payable, with support from senior managers where necessary.
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
ENDURANCE WORLDWIDE INSURANCE LIMITED is an active private limited company, incorporated on 10 April 2002, based in the London region. Registered business activity: Non-life insurance.
From Companies House records.