GOV.UK
INFORMA MARKETS (UK) LIMITED
Company number: 00370721
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 19 July 2023
and approved by Pete Judd
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 26%
- in 31 to 60 days: 54%
- in 61 days or more: 20%
Invoices due but not paid within agreed terms: 32 %
Payment terms
Standard payment period for qualifying contracts
60 days
Standard payment terms
Informa Markets (UK) Ltd a trading entity for Informa PLC in the UK. Unless otherwise agreed in writing, Informa Markets (UK) will pay for third party goods or services within 60 days of receipt of a correct, undisputed and properly due VAT invoice. Invoices must be provided on or at any time after completion of service or delivery of goods in accordance with terms agreed. All invoices must state a valid purchase order; period it relates to; valid VAT breakdown if applicable and include all supporting information required by us.
Upon receipt of valid invoice Informa Markets (UK) will pay undisputed invoiced amounts to your nominated bank account by the standard terms agreed.
If Informa Markets (UK) fail to pay any amount properly due and payable under this Order, you shall have the right to charge interest on the overdue amount at the rate of 2 per cent per annum above the base rate for the time being of Lloyds TSB Bank plc accruing on a daily basis from the due date up to the date of actual payment, whether before or after judgment. This clause shall not apply to invoices that we dispute in good faith, that do not comply with our terms and conditions. Informa Markets (UK) understands its responsibilities under the ‘Late Payment of Commercial Debts (Interest) Act 1998
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Informa Markets (UK) has a dedicated accounts payable team which can be reached by phone or email to resolve any payment or invoice related queries. In turn the team will reach out to supplier contact if it is not clear from the system why an invoice has not been approved for payment. All disputes aim to be resolved promptly within Informa SLA. Any unresolved disputes can be escalated to Informa Shared Service Centre
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