DANIEL J. EDELMAN LIMITED
Company number: 00924113
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
14 January 2025
Approved by:
M J R Murphy
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 8%
- in 61 days or more: 29%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 24%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Edelman’s standard payment terms are (i) 30 days for payments to suppliers other than Edelman group companies; and (ii) 60 days for payments to Edelman group companies. These payment terms run from the date of receipt of invoice. In practice, freelance consultants are often paid earlier than 30 days.
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
Edelman’s maximum contractual payment period is 60 days (for payments to other group companies).
Any other information about payment terms
Edelman has not changed its standard payment terms during the reporting period.
Dispute resolution process
Any complaints or concerns regarding payments can be discussed with our finance department or with the business person booking the supplier who will then liaise with our finance department. While issues are rare, we aim to resolve queries as soon as possible. Our suppliers are an important part of our business operations. Through our Code of Ethics and Business Conduct, we are committed to fair dealing in all aspects of our business, including in our relationships with suppliers.
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.
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