LIVE NATION (MUSIC) UK LIMITED
Company number: 02409911
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
29 July 2020
Approved by:
Lynn Lavelle
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 62%
- in 31 to 60 days: 27%
- in 61 days or more: 11%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 55%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Standard supplier terms are 30 days
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
The business has been significantly impacted by the measures put in place by the Government in response to Covid-19 and has not been able to trade since March 2020. As a result, the business has taken measures during the reporting period to delay any non-essential payments. All measures have been taken with careful consideration and in conjunction with a continued monitoring of the cashflow position of the business. We do not expect any long-term impact on our payment terms once the business is able to resume normal levels of operation.
Dispute resolution process
Live Nation (Music) UK Limited seeks to resolve any queries and disputes on a timely basis. The supplier's point of contact within Live Nation (Music) UK Limited would resolve any invoicing disputes with the supplier directly.
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 Fair 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