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CHINA TELECOM (EUROPE) LIMITED

Company number: 05728497

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 31 July 2020

and approved by Li Cao

Payment statistics

Average time taken to pay invoices: 55 days

Invoices paid:

• within 30 days: 48%
• in 31 to 60 days: 29%
• in 61 days or more: 22%

Invoices due but not paid within agreed terms: 9 %

Payment terms

Shortest standard payment period

30 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 will pay the monthly-recurring invoices within the service period.

For example, if the service period is for July, we will pay them in July.
If invoices are issued in advance, we received the invoices in July whereas service period is August, we normally pay them in August.
For invoices are issued by quarter/year, we will pay them within the first month of the quarter/year.

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.

The invoice marked as dispute will be placed on hold until the dispute is resolved.

No partial payment will be made in case of dispute.

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