GOV.UK
SONY MUSIC ENTERTAINMENT UK LIMITED
Company number: 01471066
Reporting period:
1 April 2020
to 30 September 2020
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 28 October 2020
and approved by WILLIAM ROWE
Payment statistics
Average time taken to pay invoices: 14 days
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 2%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 2 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Our standard conditions of purchase include terms which are 30 days from the end of the month in which a valid invoice is received.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
n/a
Any other information about payment terms
n/a
Dispute resolution process
Invoices are received and approved by the appropiate business area. Any disputes are initially addressed and resolved by this team in the shortest amount of time possible. Any disputes that cannot be resolved are escalated to Senior Finance Management and Legal and Business Affairs where applicable.
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