GOV.UK
SAGE PUBLICATIONS LIMITED
Company number: 01017514
Reporting period:
31 December 2017
to 29 June 2018
This report was filed on 24 July 2018
and approved by Richard Thame
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 40%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 46 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Sage Publications Ltd's standard payment terms are 30 days from invoice date.
The terms state that payment of a third party invoice for goods and services will be made within 30 days of receipt of a correct, undisputed VAT invoice, agreed contract detailing payments due or a payment request agreed in writing by an authorised representative within the business.
The criteria for us to make a payment within 30 days is an approved purchase order and for the PO number to be quoted on the invoice. Any invoice received without this will be paid, but could be paid later than 30 days.
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
Sage Publications is committed to ensure that all invoices are paid in line with agreed payment terms, and where possible we endeavour to make early payments to our suppliers. If a dispute arises it is resolved by discussion either by phone or email by our dedicated accounts payable team in a fair and timely manner. If the supplier feels we haven’t met the standards mentioned, then this can be raised to the Finance Operations Manager who will then look in to the dispute and resolve or escalate to senior management as appropriate.
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