CLAYESMORE SCHOOL
Company number: 00359779
Reporting period:
1 September 2017 to 28 February 2018
Report filed on:
29 March 2018
Approved by:
Amanda Hughes
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 15%
- in 61 days or more: 6%
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: 70%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
Answer not provided
Standard payment terms
Clayesmore does not have standard payment terms but agrees them with suppliers as part of the contract negotiations. The School appreciates that many of its suppliers are small local businesses where payment is due upon receipt of invoice and this is the most frequently used term.
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
61 days
This payment term is the default term for one supplier.
Any other information about payment terms
Many of our invoices are set to pay immediately. Whilst this is desirable in many ways, it does result in an artificially high failure to pay invoices within agreed terms. In addition, we are an educational establishment with many of our budget holders unavailable outside of term time which may result in a delay if an invoice is received over the school holidays.
Dispute resolution process
Our Bursary (purchases@clayesmore.com) and budget holders work with suppliers to resolve any issues. Failing a satisfactory resolution the supplier should contact the Assistant Director of Finance.
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