CHINA TELECOM (EUROPE) LIMITED
Company number: 05728497
Reporting period:
1 July 2018 to 31 December 2018
Report filed on:
30 January 2019
Approved by:
Li Cao
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 26%
- in 61 days or more: 16%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 42%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
45 days
Standard payment terms
The standard payment terms for all qualifying contracts are 30 days from invoice date. It could be negotiated and agreed based on specific case.
The agreed payment terms are reflected in purchase order forms or contracts.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the event of a dispute, it is logged with the supplier via email.The disputed invoices are placed on hold until the dispute is resolved. In case the dispute remains unresolved within a reasonable period, the supplier can escalate to the relevant Divisional / Finance Head. For any queries of the payment, the supplier can email ctesettlement@chinatelecomglobal.com
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No