ST. CLEMENTS PRESS (1988) LIMITED

Company number: 02174119

Reporting period:
1 July 2019 to 31 December 2019

This information is as reported by the business, and responses are in their own words.

This report was filed on 20 January 2020

and approved by James Lund

Payment statistics

Average time taken to pay invoices: 15 days

Invoices paid:

within 30 days: 94%
in 31 to 60 days: 6%

Invoices due but not paid within agreed terms: 43%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

The most common supplier payment terms are: • Net 30 – All vendors • Immediate – Vendors The maximum payment period agreed to in July – December 2019 is 60 days. Payment terms depends largely on agreements with respective suppliers. Should the agreement be silent, the default payment term of 30 applies. There have been no changes to standard payment terms in the reporting period.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

The business contact is responsible for confirming that the good / service delivered is of the required quality before payment is actioned. Invoice disputes are addressed with the suppliers directly by the business contact. Invoices under dispute can be processed within Oracle ebusiness suite and placed on hold. Approval and payment may take some time as dependent on the resolution of the dispute. Suppliers can contact the Global Accounts Payable team via its group mailbox accounts.payable@ft.com. An Accounts Payable Analyst would be available to answer supplier queries 22 x 5. The Global Accounts Payable team ensures that authorizers are regularly chased to approve invoices in their approval queues and any long outstanding invoices not approved within reasonable timeframes will be queried, thereby, identifying any disputed invoice. We recommend suppliers to send their invoices directly to email address accounts.payable@ft.com to be lodged within our Oracle system and to commence tracking through to settlement

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, this business has not signed up to a code of conduct or standards on payment practices.

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?