Score of 100/100 qualifies for PaymentCheck Certification
The average time to pay for Partnership Life Assurance Company Limited has significantly decreased over the three periods, from 22 days in the first period to 6 days in the second period and finally to 4 days in the third period. This shows a positive trend towards paying invoices earlier.
The company's volatility in paying invoices has also decreased over the three periods. In the first period, 20% of invoices were not paid within agreed terms, while in the second and third periods, this number decreased to 3% and 6%, respectively. This indicates a more consistent and timely payment pattern.
In the first period (Jan 2018 - Dec 2018), the average time to pay for Partnership Life Assurance Company Limited was 22 days. 80% of invoices were paid within 30 days, 16% were paid between 31 and 60 days, and 5% were paid later than 60 days. 20% of invoices were not paid within agreed terms.
| 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 | 31 Jan 2024 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 0 | 100% | 0% | 0% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 0 | 100% | 0% | 0% | 0% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | |||||
| 01 Jan 2020 - 30 Jun 2020 | 15 Jul 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 17 Jan 2020 | 4 | 94% | 3% | 3% | 6% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 6 | 97% | 1% | 2% | 3% |
| 01 Jan 2018 - 31 Dec 2018 | 31 Jan 2019 | 22 | 80% | 16% | 5% | 20% |
| 01 Jan 2018 - 30 Jun 2018 | 25 Jul 2018 |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
https://www.justgroupplc.co.uk/contact-us
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
https://www.justgroupplc.co.uk/contact-us
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Partnership Life Assurance Company Limited is a British insurance company that offers a range of financial products and services to its customers. The company was founded in 1995 and is headquartered in London.
One of the key focuses of Partnership Life Assurance is sustainability. The company has implemented various initiatives to reduce its environmental impact, such as using renewable energy sources and promoting recycling and waste reduction. They also support various charitable and community initiatives to give back to society.
The company offers a variety of life insurance products, including term and whole life insurance, as well as pension and investment plans. These products are designed to meet the specific financial needs and goals of their customers.
Some of the key people leading the company include CEO Steve Groves and Chairman Ian Owen. The company also has a team of experienced and knowledgeable advisors who work closely with customers to provide personalized financial solutions.
Partnership Life Assurance Company Limited can be reached through their website, where customers can find information about their products and services, as well as contact details for support and enquiries. The registered office address for the company is 1 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4UA.
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