VIRGIN MEDIA LIMITED

Standard payment terms

Payment terms are agreed with suppliers as part of contract negotiations. Our standard terms are between 30 and 90 days from the receipt of a valid invoice or the receipt of a valid application for payment. On receipt of a valid invoice these invoices are included in a weekly payment run as they fall due.

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

Our suppliers are paid via a weekly payment run which is pulled to cover the week in advance, thus ensuring suppliers should not be paid late.

Maximum contractual payment period agreed

90

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

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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.

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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.

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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?

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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available