Company number: 00145516
1 July 2020
to 31 December 2020
This report was filed on 29 January 2021
and approved by Peter Thorn
Average time taken to pay invoices: 27 days
- within 30 days: 53%
- in 31 to 60 days: 43%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 7 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Standard Payment terms for Refinitiv Limited as defined in the Refinitiv Purchasing Policy are 60 days. Most common payment terms that set up with the Refinitiv suppliers are 30, 50 and 60 days as per the contractual agreements during the reporting period.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
There is a dedicated Accounts Payable Helpdesk team that the suppliers can reach out to with regards to any queries/dispute related to invoices/payment status etc. The queries can be submitted through Refinitiv supplier portal and the suppliers are notified through an auto generated e-mail containing the ticket number for tracking purposes. The queries are usually responded within 24-48 hours’ time frame and appropriate resolution/information is provided by the Accounts Payable Department.
For further details, please visit Refinitiv Supplier Portal “Ask a question” section to submit a query: https://www.refinitiv.com/en/supplier-portal/faq
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?