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THE GURKHA WELFARE TRUST

Company number: 05098581

Reporting period:
1 July 2018 to 31 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 1 February 2019

and approved by Alexander Howard

Payment statistics

Average time taken to pay invoices: 15 days

Invoices paid:

• within 30 days: 88%
• in 31 to 60 days: 10%
• in 61 days or more: 2%

Invoices due but not paid within agreed terms: 12 %

Payment terms

Shortest standard payment period

15 days

Longest standard payment period

30 days

Standard payment terms

Due to the small size of UK operations, The Gurkha Welfare Trust does not issue standard payment terms, but operates payment practices with the intent of paying invoices as soon as possible (within 7 days) and within the Invoice Due date stipulated by the supplier.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

N/A

Dispute resolution process

Initial Dispute Resolution should be between the senior individual responsible for engaging with the supplier and receiving the goods/services, and the supplier. If unresolved the Head of Finance should take on responsibility for resolution. In extremis, the issue is to be raised through the Chief of Staff to Director GWT. Any dispute likely to have a reputational impact on the Trust is to be advised to the Treasurer and the Finance Committee.

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

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