REFINITIV LIMITED
Company number: 00145516
Reporting period:
1 January 2024 to 30 June 2024
Report filed on:
29 July 2024
Approved by:
Peter Thorn
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 32%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 6%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard Payment terms for as defined by the company's Purchasing Policy are 60 days. We commit to making payment of all undisputed sums due to third party suppliers within the committed pay terms basis timely submission of a valid invoice to our Accounts Payable department with relevant details such as PO number/contact name. Few suppliers are setup with a shorter/longer pay terms based on negotiated contracts
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Payment processing is dealt with by the Accounts Payable function and any supplier payment queries that may arise are actioned by the team. In the event, where the issue is not resolved, the query will be discussed between the supplier and relevant contractual service owner or finance personnel to ensure satisfactory resolution for both parties.
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.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
Yes
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