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CHINA TELECOM (EUROPE) LIMITED

Company number: 05728497

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 29 July 2019

and approved by Li Cao

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

• within 30 days: 45%
• in 31 to 60 days: 30%
• in 61 days or more: 25%

Invoices due but not paid within agreed terms: 13 %

Payment terms

Shortest standard payment period

14 days

Longest standard payment period

45 days

Standard payment terms

The invoices should be paid after confirming the goods delivered or service starting to be used.
Normally, we pay for monthly-recurring invoices when services are used in the same month. For example, if the service recurs in July, we pay for the invoice in July. When invoices are issued in advance, the invoices will not be paid on that time. While when invoices are issued later, we will pay them on time.

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

No

Maximum contractual payment period agreed

45 days

Any other information about payment terms

N/A

Dispute resolution process

If the supplier has any quires about the payment, they could contact us via ctesettlement@chinatelecomglobal.com or by phone.
If there is a dispute, we will contact the supplier by email or by phone to discuss the disputes.
Please note the invoice marked as dispute will be placed on hold until the dispute is resolved. No partial payment will be made in this case.

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