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CSM SPORT AND ENTERTAINMENT LLP

Company number: OC368517

Reporting period:
1 January 2020 to 30 June 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 29 July 2020

and approved by Rainer Fuchs

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

• within 30 days: 52%
• in 31 to 60 days: 37%
• in 61 days or more: 11%

Invoices due but not paid within agreed terms: 35 %

Payment terms

Shortest standard payment period

14 days

Longest standard payment period

60 days

Standard payment terms

The most frequently used payment terms agreed were 30 days

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

Yes – 3 Standard payment terms 14, 30 and 45.

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

Yes – Email contact to suppliers.

Maximum contractual payment period agreed

60 days

Fortnightly payment runs moved to monthly in May.

Any other information about payment terms

N/A

Dispute resolution process

If there is a query or dispute on a supplier invoice, the invoice status will be noted as "Query" within the financial information system. The member of the Purchase Ledger team responsible for that supplier will make contact with either the point of contact indicated on the invoice or the normal point of contact for the supplier, to explain the circumstances for the query or dispute. The expected timescale for the resolution of supplier queries is five working days.

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