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REFINITIV LIMITED

Company number: 00145516

Reporting period:
1 January 2024 to 30 June 2024

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This information is as reported by the business, and responses are in their own words.

This report was filed on 29 July 2024

and 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%

Invoices due but not paid within agreed terms: 6 %

Payment terms

Standard payment period for qualifying contracts

1 days

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

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

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 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.

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