The data for Standard Life Investments (Mutual Funds) Limited shows a steady increase in the average time taken to pay invoices from 2018 to 2019. However, there is a sharp increase in 2020, possibly due to the impact of COVID-19 on the company's operations.
The volatility in the data can be seen in the fluctuating percentages for invoices paid within 30 days and between 31 and 60 days. This indicates that the company's payment process may not be consistent.
| 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 2020 - 30 Jun 2020 | 31 Jul 2020 | |||||
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 87 | 0% | 0% | 100% | 100% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | |||||
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | |||||
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
60 days net receipt of a valid invoice
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
60
Contract terms are subject to negotiation but our standard dispute terms are : Contract Dispute terms: Any dispute relating to the interpretation of, arising out of, relating to or in connection with this Agreement will within fourteen (14) days of being raised by either party, be escalated for resolution to a member of the Customer’s senior management and a director of the Supplier (or such alternative representatives as are nominated in the Statement of Work). Where any dispute is not resolved within thirty (30) days of any such escalation, either party shall then be entitled to resort to formal legal proceedings. Nothing in this clause 23 shall prevent the Customer or any Customer Affiliate from seeking injunctive or similar relief or commencing court proceedings at any time. Back of Purchase Order terms issued to suppliers : DISPUTES Any dispute relating to the interpretation of, arising out of, relating to or in connection with the Agreement will be referred in the first instance to a member iod Standard Life’s senior management and a director of the Supplier for resolution.
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
Standard Life Investments (Mutual Funds) Limited is a leading global investment company that offers a range of sustainable products and services. The company is dedicated to promoting responsible and sustainable investment practices while delivering strong long-term returns to its clients.
Their sustainability program is focused on integrating environmental, social and governance (ESG) factors into their investment decisions. This includes actively engaging with companies to improve their ESG practices and providing sustainable investment solutions to clients.
The company offers a variety of products and services, including mutual funds, real estate investments, and pension solutions. They have a strong focus on responsible investing and offer a range of sustainable funds for clients who want to align their investments with their values.
The key people at Standard Life Investments include Keith Skeoch, the Chief Executive Officer, and Euan Munro, the Chief Investment Officer. They are supported by a team of experienced investment professionals who are committed to delivering excellent results for clients.
The company's website address is www.standardlifeinvestments.com, where clients can find information on their products and services, investment philosophy, and sustainability program. The registered office address is 1 George Street, Edinburgh, EH2 2LL, United Kingdom.
In summary, Standard Life Investments (Mutual Funds) Limited is a leading investment company with a strong focus on sustainability. They offer a range of responsible investment products and services and have a dedicated team of professionals working towards delivering long-term value for clients.