THE NATIONAL FOSTERING AGENCY LIMITED
Company number: 03127814
Reporting period:
1 March 2019 to
31 August 2019
This report was filed on 30 September 2019
and approved by Jean-Luc Janet
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 7%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 36%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 days from date of invoice as standard. However, shorter payment terms than the standard are offered for certain types of services supplied. Note that there is a minimum allowance of 14 days from receipt of the invoice as acceptable processing time to get the invoice approved, posted and paid.
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
No further comment provided
Any other information about payment terms
N/A
Dispute resolution process
First contact is a dedicated accounts payable section of a shared service centre (SSC) that offers suppliers support through to query resolution. Suppliers can contact the SSC on a dedicated telephone number or email address. They will then identify the person within the business who will be able to resolve the problem and then the SSC contacts the supplier to discuss the resolution.
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