ELSEVIER LIMITED
Company number: 01982084
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
18 July 2018
Approved by:
Stuart Whayman
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 45%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 16%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
The standard and default payment term for Elsevier Ltd suppliers is 45 days from receipt of a valid invoice. In addition, certain categories of supplier are set up with specific payment dates (e.g. for royalty, rent and lease related payments), while others may be paid early where they offer early settlement discounts. The maximum payment period for a contract during the reporting period was 60 days. There was no change to the standard payment terms during the reporting period.
Were there any changes to the standard payment terms in the reporting period?
No
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
No further comment provided
Dispute resolution process
Elsevier’s Standard Terms of Purchase set out the legal framework for its supplier relationships. Elsevier has a dedicated Payments Helpdesk, contactable by email at: P2PhelpdeskUS@elsevier.com or by telephone in the UK on: +44 1865 84 3198. The Helpdesk is responsible for the investigation and resolution of invoice and/or payment related queries and the target response time is 48 hours. If a supplier is not satisfied with the Helpdesk response, details will be escalated to either the Head of Elsevier’s ‘Procure to Pay’ function or to the Elsevier business contact responsible for managing the supplier relationship. If a dispute relates to contract terms or supplier performance, the Helpdesk will immediately refer the matter to the appropriate business contact, who will contact the supplier directly.
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: UK Prompt Payment code
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.
Yes
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