When will I receive the first payment?
You will receive first payment when we receive an invoice that accords with the agreed cashflow - assuming that the production agreement is signed. C4 makes most of its payments by BACS.
What is a BACS payment?
BACS stands for Bank Automated Clearing System. This means we pay the money electronically into your bank account. There are regular payment runs for UK payments and foreign payments are usually on Mondays - a UK BACS payment takes two working days to clear.
When is a trust letter/money on trust payment appropriate?
Trust letters are issued only in exceptional circumstances where the majority of the contractual points have been resolved, the production is time critical and the parties have agreed all substantial points.
Do I need to set up a mandated trust/deposit account?
Only when we ask you to (and we'll supply the necessary paperwork). Mandated trust accounts are set up at the discretion of the Commercial Affairs Manager. Usually we want them for:
- New suppliers
- High cost projects (including all dramas)
- High risk projects
How do I set out an invoice/cashflow?
An invoice should be addressed to Channel 4 Television and quote the programme title, contract number, relevant cashflow date, bank account details and VAT registration number. The invoice should be issued on headed paper, marked for the attention of and sent to the Commercial Affairs Manager - Finance at least 10 days before it is payable. You may provide invoices well ahead of the date of payment.
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