MICRO FOCUS SOFTWARE (IP) HOLDINGS LIMITED

Standard payment terms

Each supplier is required to submit their invoices to the Micro Focus Accounts Payable team in accordance with the instructions on the applicable purchase order. Micro Focus reserves the right to withhold payment on any invoice until such time as Supplier submits the invoice in accordance with the agreed requirements. The standard payment term is sixty (60) days from the receipt of a valid invoice. Some suppliers and supply categories, like essential services, will have payment terms negotiated in advance that will be different from the Micro Focus standard payment term. It is Micro Focus’ practice to issue payment for invoices that become due in the next payment run. If an invoice comes due after a payment run, payment will be issued in the next available payment run.

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