CLEAR CHANNEL INTERNATIONAL LIMITED
Company number: 00309019
Reporting period:
1 January 2023
to 30 June 2023
This report was filed on 28 July 2023
and approved by SARAH TOLIA
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 22%
- in 61 days or more: 1%
Invoices due but not paid within agreed terms: 30 %
Payment terms
Standard payment period for qualifying contracts
45 days
Standard payment terms
STANDARD PAYMENT TERMS FOR 3RD PARTY SUPPLIERS ARE 45 DAYS WITH A SMALL NUMBER ON 60.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
• Depends on the reason…
o if the supplier is claiming shorter terms than we have set in our systems, the AP team would refer the supplier to the Procurement team, respectively, so terms can be agreed as vendor amendments are the responsibility of these teams to approve.
o If payment is late, the AP team will investigate and resolve ASAP. Reasons are usually that an invoice is awaiting approval with the relevant designated approver. AP will follow up with the individuals concerned to resolve, enabling the invoice to be processed for payment, at which point the invoice can then be settled on the next payment run, if agreed to by the supplier, or a same day bank transfer can be arranged.
o On some occasions a credit note will be requested, if the supplier has invoiced at an incorrect value.
o If a reminder is received and the invoice has not been received prior to this, the AP team will request a copy of the invoice and process as normal so it can be settled in the next payment run, if agreed to by the supplier, or a same day bank transfer can be arranged.
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