LIVE NATION (MUSIC) UK LIMITED

Company number: 02409911

Reporting period:
1 January 2020 to 30 June 2020

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This report was filed on 29 July 2020

and approved by Lynn Lavelle

Payment statistics

Average time taken to pay invoices: 39 days

Invoices paid:

• within 30 days: 62%
• in 31 to 60 days: 27%
• in 61 days or more: 11%

Invoices due but not paid within agreed terms: 55%

Payment terms

Shortest standard payment periods

0 days

Longest standard payment period

60 days

Standard payment terms

Standard supplier terms are 30 days

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

The business has been significantly impacted by the measures put in place by the Government in response to Covid-19 and has not been able to trade since March 2020. As a result, the business has taken measures during the reporting period to delay any non-essential payments. All measures have been taken with careful consideration and in conjunction with a continued monitoring of the cashflow position of the business. We do not expect any long-term impact on our payment terms once the business is able to resume normal levels of operation.

Dispute resolution process

Live Nation (Music) UK Limited seeks to resolve any queries and disputes on a timely basis. The supplier's point of contact within Live Nation (Music) UK Limited would resolve any invoicing disputes with the supplier directly.

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, 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