EXPERIAN TECHNOLOGY LIMITED
Company number: 03978091
Reporting period:
1 April 2021 to 30 September 2021
Report filed on:
8 October 2021
Approved by:
Karen Greenwood
Payment statistics
Average time taken to pay invoices: 5 days
Invoices paid:
- within 30 days: 100%
Late and disputed:
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
Under Experian Technology Limited’s standard terms, we commit to the payment of all invoices no later than the last day of the month following the month in which we receive a Correct Invoice from an Experian counterparty for counterparties with Intra Group Accounts (internal bank accounts). For all other intercompany invoices, payments are paid in line with specific country payment requirements including the settlement of invoices against receivables for countries where exchange control regulations exist.
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
0 days
All payments are intercompany payments within the Experian Group and all invoices are approved prior to submission and are therefore paid immediately.
Any other information about payment terms
No further comment provided
Dispute resolution process
The Experian Group has an internal intercompany policy which defines all documentation requirements in advance of invoicing and a dispute resolution process. The relevant section is: Policy 3.4 Disputed items Wherever possible disagreements regarding intercompany transactions should be resolved between the counterparties. When transactions identified in the reconciliation process cannot be resolved due to disagreement, the dispute process should be followed. Disputed transactions should be sent to the Central Finance team along with any supporting documentation and a brief summary of the issue. The dispute will then be reviewed by the Director of Financial Reporting. Where necessary, the relevant parties will be consulted. The decision of the Director of Financial Reporting is final and is to be adhered to.
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: Experian Ltd, a fellow group undertaking, is a signatory and transacts external supplier payments on behalf of UK subsidiaries in the Experian Group.
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