FITCH RATINGS LTD

Standard payment terms

We do not operate standard payment terms. The majority of supplier terms are 30 days, whilst some supplier terms are agreed by individual negotiation. The shortest standard payment period is 0 days, and the longest standard payment period is 60 days. Suppliers are usually paid via a weekly BACS payment run. If invoices are received after the weekly payment run date, it could lead to late payment for those invoices whose payment terms are less than 7 days. If we have a query or concern about an invoice, we immediately contact the supplier but this could lead to longer payment days in some cases.

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

No additional information

Maximum contractual payment period agreed

60

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

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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.

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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.

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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?

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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available