The trend for CHUBB EUROPEAN GROUP SE is a steady increase in the average time to pay and a decrease in the percentage of invoices paid within 30 days. This indicates that the company may be taking longer to pay invoices to their suppliers.
The volatility for CHUBB EUROPEAN GROUP SE is relatively low, with small changes in the percentages of invoices paid within different time periods over the three periods analyzed.
| 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 2018 - 30 Jun 2018 | 31 Jul 2018 | 30 | 73% | 18% | 9% | 16% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Chubb Standard contract terms are 45 days. However, approved invoices are generally paid as soon as they are received
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
45
Any disputes are treated as confidential and referred to the Chubb Authorised Representative and Supplier Authorised Representative for resolution. The Representatives meet to resolve the dispute as soon as reasonably practicable and in any event within seven days of the referral. If required, the dispute is then referred to the Managing Director of Chubb and the Managing Director of Supplier, who again meet to resolve the dispute as soon as reasonably practicable after referral and in any event within seven days of the referral. If a dispute is not resolved within 35 days of the dispute first being referred to the Representatives then the Parties are entitled to begin legal proceedings in connection with the dispute or to settle the dispute through any other alternative dispute resolution procedure that the Parties may agree in relation to the dispute.
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
CHUBB EUROPEAN GROUP SE is a closed — transfer from uk european public limited liability company (se), based in the London region. Registered business activity: Non-life insurance.
From Companies House records.