Score of 83.8/100 qualifies for PaymentCheck Certification
| 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 2025 - 30 Jun 2025 | 23 Jul 2025 | 23 | 87% | 11% | 2% | 38% |
| 01 Jul 2024 - 31 Dec 2024 | 21 Jan 2025 | 25 | 84% | 14% | 2% | 42% |
| 01 Jul 2023 - 31 Dec 2023 | 25 Jan 2024 | 26 | 80% | 16% | 4% | 44% |
| 01 Jul 2022 - 31 Dec 2022 | 17 Jan 2023 | 27 | 72% | 25% | 4% | 58% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 19 | 89% | 8% | 4% | 48% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 22 | 83% | 11% | 6% | 59% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 16 | 93% | 5% | 1% | 41% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 17 | 94% | 4% | 2% | 26% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 16 | 93% | 6% | 1% | 29% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 9 | 98% | 2% | 0% | 43% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
First Central Insurance Management Ltd's (FCIM) standard payment terms are 30 days from the date of the invoice. The maximum contractual payment period of any qualifying contract is 30 days. There have been no changes to FCIM's standard payment terms during the submission period.
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
We aim to deal with complaints at first notification and avoid escalations wherever possible. All initial concerns should be sent to Finance_Ops@first-central.com so these can be investigated. Any disputes are dealt with by the Finance Operations team and supported by any contacts in the business who hold a relationship with the supplier.
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
FIRST CENTRAL INSURANCE MANAGEMENT LIMITED is a leading insurance company in the United Kingdom. They offer a wide range of insurance products and services to their customers, including car, home, and commercial insurance. The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact.
The sustainability program of FIRST CENTRAL INSURANCE MANAGEMENT LIMITED includes using eco-friendly materials, promoting paperless transactions, and reducing carbon emissions through efficient energy use. They also have a dedicated team that works towards improving their sustainability practices and reducing their carbon footprint.
The company's products and services are designed to meet the diverse needs of their customers. They offer comprehensive coverage for car insurance, protecting their policyholders against accidents, theft, and damage. Their home insurance provides coverage for both buildings and contents, giving customers peace of mind in case of any unexpected events. They also offer commercial insurance, tailored to the specific needs of businesses.
The key people at FIRST CENTRAL INSURANCE MANAGEMENT LIMITED include the CEO, COO, and CFO, who bring years of experience and expertise to the company. They are also supported by a team of dedicated professionals who are committed to delivering excellent customer service and ensuring the company's success.
Customers can contact FIRST CENTRAL INSURANCE MANAGEMENT LIMITED through their website, which contains detailed information about their products and services. The company's registered office address is located in Haywards Heath, West Sussex, and their website address is www.firstcentralinsurance.com.
In conclusion, FIRST CENTRAL INSURANCE MANAGEMENT LIMITED is a reputable insurance company in the UK, offering sustainable and comprehensive insurance solutions to its customers. With their experienced leadership team and commitment to sustainability, the company continues to grow and serve its customers with excellence.