HARPERCOLLINS PUBLISHERS LIMITED

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.

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.

Any invoice that is in dispute is referred to the relevant buyer/approver. AP may check in on progress of the dispute but this must be resolved between the supplier and their HarperCollins Publishers contact. AP does not have the appropriate knowledge of whether the goods or services have been delivered to the expected quality and therefore is not able to resolve disputes.