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CLEAR CHANNEL INTERNATIONAL LIMITED

Company number: 00309019

Reporting period:
1 January 2019 to 30 June 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 23 July 2019

and approved by MICHAEL SAUNTER

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

• within 30 days: 51%
• in 31 to 60 days: 44%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 45 %

Payment terms

Shortest standard payment period

45 days

Longest standard payment period

60 days

Standard payment terms

STANDARD PAYMENT TERMS FOR 3RD PARTY SUPPLIERS ARE 45 DAYS WITH A SMALL NUMBER ON 60.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

• Depends on the reason…

o if the supplier is claiming shorter terms than we have set in our systems, the AP team would refer the supplier to the Procurement team, respectively, so terms can be agreed as vendor amendments are the responsibility of these teams to approve.
o If payment is late, the AP team will investigate and resolve ASAP. Reasons are usually that an invoice is awaiting approval with the relevant designated approver. AP will follow up with the individuals concerned to resolve, enabling the invoice to be processed for payment, at which point the invoice can then be settled on the next payment run, if agreed to by the supplier, or a same day bank transfer can be arranged.

o On some occasions a credit note will be requested, if the supplier has invoiced at an incorrect value.

o If a reminder is received and the invoice has not been received prior to this, the AP team will request a copy of the invoice and process as normal so it can be settled in the next payment run, if agreed to by the supplier, or a same day bank transfer can be arranged.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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