Bangkok Life Assurance Public Company Limited (“the Company”) focus on liquidity management and cash management. The average credit term is set within 30 days which depends on the type of business partner and considering from various factors related, such as the duration of business cooperation, quality standards of products and services. In this regard, the Company has agreed with each business partner to be consistent and in accordance with The Securities and Exchange Commission (SEC) prescribed standard policies and adhere to the principles of fair dealing with all business partners with the following guidelines:
|Type||The average credit terms|
|Reinsurance||The average credit terms are 30 days after confirming the amount with reinsurance company. (In case payment is required)|
|Compensation||The average credit terms are 15 days after the first year policy is issued and the date of premium receipt issuance.|
|Procurement||The average credit terms are 15 days after receipt goods.|
|Expense from contract||The average credit terms are 15 days after receipt invoice.|
|Fax claim||The average credit terms are 15 days after receipt invoice.|
In case that the payment cannot be made according to the guidelines for alliances and business partners (Which does not happen often) because the documents supporting the transaction are still incomplete. There will be clarified to the responsible department to communicate directly with business partners.