GOV.UK
THE UNIVERSITY OF CUMBRIA
Company number: 06033238
Reporting period:
1 August 2017
to 31 January 2018
This report was filed on 26 February 2019
and approved by Professor Julie Mennell (Vice Chancellor)
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 91%
- in 31 to 60 days: 8%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 9 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
As per our terms & conditions: In the absence of any express condition in the Contract, UOC terms are that payment shall be due thirty (30) days following receipt of a valid invoice, providing that the date of the invoice is not prior to the date of delivery.
Standard payment period:
30 days
Maximum payment period:
30 days
Any changes to standard payment terms and how suppliers have been notified or consulted on these changes:
There have not been any changes to the standard payment terms in the period
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
Each case is considered individually. Our accounts payable team and contract manager will work with the supplier to resolve any issues as quickly as possible. Suppliers should contact the following if they have any queries:
1) Contact our accounts payable team (accountspayable@cumbria.ac.uk)
2) Contact their contract manager
3) If contact through the above channels has not resolved the issue, then the supplier should contact the Finance Manager for Operations and Control
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