IOP PUBLISHING LIMITED
Company number: 00467514
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 13 January 2020
and approved by Oliver Callaghan
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 68%
- in 31 to 60 days: 24%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 42 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Our standard terms are 30 days but individual terms are negotiated with each supplier so vary from immediate terms to 30 days.
An average of 9% of our invoices have immediate payment terms.These are paid as soon as possible but are reported as paid outside of terms in the above figures.
Our paid within terms has dropped slightly in this period due to invoices being delayed for 1 supplier while negotiations were undertaken regarding the service provided.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Disputes are dealt with by contacting our Accounts Payable Team by email, telephone or in writing. Escalation to any relevant colleagues within the business may then occur where necessary.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No