HARPERCOLLINS PUBLISHERS LIMITED

Standard payment terms

We generally pay author expenses on immediate terms, hence 0 days as shortest standard term. We may also pay immediately to secure goods or services for events etc. Longest payment terms are 12 weeks from end of month so have used 120 days in this field since it requires a number to be entered.

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

No information available

Any other information about payment terms

Further remarks about your payment terms 1) Most frequently used payment terms are 30 days from invoice date 2) Exceptions are made for author expenses which are generally processed as immediate payment terms 3) Maximum payment terms – a. POs quote 90 days but the standard at vendor creation is 30 days b. We make payments on account to some key suppliers. c. Occasionally, we may make immediate payments for various reasons e.g. to secure goods, bookings, venues and other items for author tours or other events. 4) Some suppliers e.g. utilities are paid by Direct Debit. Corresponding invoices are marked as paid when the funds are deducted from our account, not when the invoice is received. 5) When calculating the average number of days from receipt to payment we have calculated from scan date to payment date plus an additional 2 days. This is to account for our 48 hour SLA to log all received invoices from date of receipt. For the purposes of calculating the metric we have assumed that the SLA was achieved in each case. 6) We have added a further 1 day for USD & EUR processing and 2 days for other payment currencies.

Maximum contractual payment period agreed

120

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