GREAT ACADEMIES EDUCATION TRUST
Company number: 06237630
Reporting period:
1 September 2017 to 28 February 2018
Report filed on:
28 March 2018
Approved by:
Allison Jean Crompton
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 19%
- 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: 22%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 Days upon receipt of invoice which is backed up by approval/receipt of goods/services or approved as an upfront payment
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
30 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
A complaint or concern will be considered by the Finance Department who will liaise with the Trust staff member/s who requested and receipted the orders to identify all background information. The Trust will subsequently liaise with the supplier to resolve the conflict. All complaints will be looked into once reported to the Trust. The turnaround time to arrive at a resolution will be dictated by the complexity of the issue and availability of all peoples relevant to the process both within the Trust and outside.
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