REFINITIV LIMITED
Company number: 00145516
Reporting period:
1 July 2021 to 31 December 2021
Report filed on:
28 January 2022
Approved by:
Peter Thorn
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 52%
- in 61 days or more: 3%
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
0 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard Payment terms for Refinitiv Limited as defined in the Refinitiv Purchasing Policy are 60 days. Most common payment terms that set up with the Refinitiv suppliers are 0, 30 and 50 days as per the contractual agreements during the said reporting period
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
80 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
There is a dedicated Accounts Payable Helpdesk team that the suppliers can reach out to with regards to any queries/dispute related to invoices/payment status etc. The queries can be submitted through Refinitiv supplier portal and the suppliers are notified through an auto generated e-mail containing the ticket number for tracking purposes. The queries are usually responded to within 24-48 hours’ time frame and appropriate resolution/information is provided by the Accounts Payable Department. https://www.refinitiv.com/en/supplier-portal/faq
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