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GLOBAL RADIO SERVICES LIMITED

Company number: 03296557

Reporting period:
1 October 2019 to 31 March 2020

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

This report was filed on 4 June 2020

and approved by Darren Singer

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

• within 30 days: 43%
• in 31 to 60 days: 48%
• in 61 days or more: 9%

Invoices due but not paid within agreed terms: 57 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

30 days from date of invoice for undisputed compliant invoices.

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

As standard, we run 2x payment runs per month, one clearing mid month (on or around the 15th) and the other clearing final working day.

Dispute resolution process

Any dispute would be communicated to the Purchase Ledger Team and documented within the finance system. Depending on the nature of the dispute, the resolution of the query would either be picked up by either the budget holder or a Purchase Ledger Team member. In either case, Coda (Finance System) will be kept up to date with a commentary of all communications and update connected to any ongoing dispute.

In exceptional circumstances, the Purchase Ledger team will escalate the query to the Purchase Ledger Manager for resolution.

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