THE JAMES HUTTON INSTITUTE
Company number: SC374831
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
13 November 2019
Approved by:
James Curran
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 89%
- in 31 to 60 days: 9%
- in 61 days or more: 2%
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: 30%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
30 days
Standard payment terms
Payments are made within supplier terms or within 28 days of either receipt of good or invoice, whichever is the later, subject to processing constraints and payment runs being prepared twice monthly. Where contractual obligations require payment in less than 28 days this is accommodated.
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
45 days
45 days represents the average arising from Net Monthly terms offered by some suppliers.
Any other information about payment terms
No further comment provided
Dispute resolution process
We advise the supplier that the invoice is in dispute and the department concerned communicates directly with the supplier to resolve the matter and then confirms with accounts when payment can be made.
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