Industry ranking
Score of 100/100 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 Jul 2021 - 31 Dec 2021 | 24 Feb 2022 | 14 | 100% | 0% | 0% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 26 Jul 2021 | 14 | 100% | 0% | 0% | 0% |
| 01 Jul 2020 - 31 Dec 2020 | 10 Feb 2021 | 14 | 100% | 0% | 0% | 0% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 14 | 100% | 0% | 0% | 0% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 14 | 100% | 0% | 0% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 26 Jul 2018 | 14 | 100% | 0% | 0% | 0% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 14 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The standard length of time for payment of invoices is upon receipt of invoice. The maximum payment period is 14 days. The standard payment terms vary from 0 days to 14 days, depending on the supplier. There have been no changes to standard terms.
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
Any dispute is promptly dealt with by the accounts payable team. The identification and treatment of disputes are done before the invoice due date to ensure that there is no dispute preventing the payment of the invoice. If there is a dispute, the team resolves it as quickly as possible with the supplier. On average we receive seven invoices annually.
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
Principal Financial Services V (UK) Ltd is a UK-registered company with a Companies House classification of activities auxiliary to insurance and pension funding. It appears to form part of the wider Principal Financial Group, whose global arm operates as Principal Asset Management, described on its own site as an investment company offering mutual funds, ETFs, interval funds, CITs and SMAs to clients worldwide. The UK entity itself is not described in independent detail in the available evidence, but its registered activity and group branding indicate a role within the group's international financial services and asset management operations rather than as a standalone consumer-facing business.
Generated from the company's website and Companies House records. Sources: principalglobal.com