RELX (UK) LIMITED
Company number: 02746621
Reporting period:
1 July 2019 to 31 December 2019
Report filed on:
30 January 2020
Approved by:
Nick Luff
Payment statistics
Average time taken to pay invoices: 57 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 41%
- in 61 days or more: 14%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 24%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
RELX (UK) Ltd's standard payment terms are 45 days from invoice date for contracts relating to the LexisNexis business. For corporate costs, no standard payment terms are in place, and payment terms are driven by supplier payment terms. There have been no changes to these standard payment terms in the period. The maximum contractual payment period was 90 days.
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
90 days
No further comment provided
Any other information about payment terms
The payment statistics for 1 July 2019-31 December 2019 were negatively impacted by an intercompany tidy up exercise in the period. In line with the reporting requirements, the statistics presented above include relevant intercompany payments. Excluding intercompany payments, the payment statistics would have been:
Average number of days taken to make payments in the reporting period: 37 days
Percentage of payment made: in 30 days or fewer 50%, between 31-60 days 45%, 61 days or longer 5%
Percentage of payments due not paid within the agreed payment period: 21%
Dispute resolution process
Payment disputes are initially addressed by either the employee who has the relationship with the supplier (for corporate costs) or by accounts payable (LexisNexis). Matters are escalated to senior management as required.
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: 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.
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