SONY MUSIC ENTERTAINMENT UK LIMITED

Company number: 01471066

Reporting period:
1 April 2018 to 30 September 2018

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This report was filed on 29 October 2018

and approved by William Rowe

Payment statistics

Average time taken to pay invoices: 20 days

Invoices paid:

• within 30 days: 89%
• in 31 to 60 days: 5%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 11%

Payment terms

Shortest standard payment periods

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?

Answer not provided

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

N/A

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 appropriate 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, 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