Score of 92.8/100 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 Jul 2023 - 31 Dec 2023 | 05 Feb 2024 | |||||
| 01 Jan 2023 - 26 Jul 2023 | 27 Jul 2023 | |||||
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | |||||
| 01 Jan 2022 - 30 Jun 2022 | 25 Jul 2022 | |||||
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 4 | 100% | 0% | 0% | 0% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 14 | 88% | 12% | 0% | 12% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The business' standard payment terms are for all undisputed invoices to be paid within 30 days of invoice date. The maximum contractual payment period is 30 days from the invoice date and there have been no changes to the business' standard payment terms in the reporting period. We will agree to shorter terms if the contractual negotiations require it.
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
ReAssure relationship managers oversee individual supplier contracts and are the first contact point for dispute resolution as they hold the relevant knowledge of individual contracts and services. The dispute resolution process is supplemented from a supplier facing perspective with the relevant contractual provisions for invoice query, escalation and dispute processes. The Finance payables team also support the business with any supplier interaction, credit notes and other activities that may be delaying payment of an invoice.
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.
❌
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
REASSURE GROUP PLC is a UK-based life insurance and pensions company that offers a range of financial services to customers. The company was founded in 1963 and has since grown to be one of the largest providers of life and pension products in the UK.
The company's sustainability program focuses on responsible and ethical business practices, including reducing their carbon footprint and promoting diversity and inclusion within the organization. They also have a strong commitment to supporting local communities through charitable donations and volunteering initiatives.
REASSURE GROUP PLC offers a variety of financial products and services, including life insurance, pensions, and investments. They work with their customers to provide tailored solutions that meet their individual needs and financial goals.
The key people at REASSURE GROUP PLC include the CEO, David Hudson, and the CFO, Tom Cross Brown. They lead a team of experienced professionals who are dedicated to providing high-quality services to their customers.
For more information on REASSURE GROUP PLC and their products and services, you can visit their website at www.reassure.co.uk. Their registered office address is at Windsor House, Telford TF3 4NB, UK.
Proud of your payment record? Show your live score on your own site:
<iframe src="https://paymentcheck.co.uk/badge/11597179" width="240" height="72" style="border:0" title="PaymentCheck Score" loading="lazy"></iframe>