CLEAR CHANNEL UK LIMITED
Company number: 00950526
Reporting period:
1 July 2024 to 31 December 2024
Report filed on:
29 January 2025
Approved by:
April Smith
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 35%
- in 61 days or more: 10%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 29%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard terms are 45 days - Some suppliers are paid on 60 days, none longer
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
• There have not been any changes to our standard terms. • The Procurement team may arrange amendments to payment terms for individual accounts as part of supplier negotiations. • Landlord contracts may be amended by the Estates Management team following discussions/negotiations with Landlords, these can be led by either side.
Any other information about payment terms
No further comment provided
Dispute resolution process
• Depends on the reason… o if the supplier or Landlord are claiming shorter terms than we have set in our systems, the AP team would refer the supplier or Landlord to the Procurement or Estates Management 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 or that the Purchase Order has not been raised/receipted by the relevant department within the business. 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 Costing query, where the invoice exceeds the PO value – these are routed via workflow in the system to whomever approved the purchase order, to approve the difference, after which the invoice is processed for payment and 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 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