Score of 81.9/100 qualifies for PaymentCheck Certification
IHS MARKIT UK SERVICES LIMITED demonstrates a strong trend of timely payments, with an average payment time of 20 days and 76% of invoices settled within 30 days. While the majority are prompt, a consistent segment of 10% of payments extends beyond 60 days, indicating a potential tail of slower processing for some invoices.
Payment reliability is generally high, with over three-quarters of invoices paid within a standard 30-day window, making their payment behavior largely predictable for most transactions. However, the 10% of payments that are consistently late and extend beyond 60 days introduce a moderate level of unpredictability and risk for a subset of invoices.
Overall, IHS MARKIT UK SERVICES LIMITED presents a low-to-moderate payment risk profile, primarily due to their strong average payment time and high percentage of on-time payments. Suppliers should consider the 10% of invoices that consistently go over 60 days as a key decision factor; implementing credit terms that align with the 30-day norm and establishing clear escalation for delayed payments could mitigate potential cash flow disruptions.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2024 - 31 Dec 2024 | 31 Jul 2025 | 23 | 68% | 25% | 7% | 7% |
| 01 Jul 2023 - 31 Dec 2023 | 12 Feb 2024 | 47 | 60% | 16% | 24% | 24% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
60 days - invoice date to payment date with 1,7 and 15 day excepted categories.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Payment Terms, including exceptions, per Policy are applied to all qualifying contracts. Where a negotiation is required IHS Markit UK Services Limited will consider the uniqueness of the value that the vendor provides. The facility for specific exemption to be granted does exist but requires senior finance management approval. All qualifying contracts contains terms for late payment or non-payment including the levying of interest and termination for cause.
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.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
IHS MARKIT UK SERVICES LIMITED operates as a Private limited Company, providing services within the United Kingdom. Its name specifically indicates a focus on service provision.
The company holds an active status under company number 06568554, having been incorporated on 17 April 2008. Its registered office is located in London at 4th Floor Ropemaker Place, 25 Ropemaker Street, London, EC2Y 9LY.
As a private limited company with 'SERVICES' in its name, this type of organisation typically specialises in delivering various professional or business support services within the UK market. These often encompass expert advice, operational assistance, or specialised functional offerings to other organisations and clients.