AVONBOURNE INTERNATIONAL BUSINESS AND ENTERPRISE ACADEMY TRUST
Company number: 08080096
Reporting period:
1 September 2018
to 28 February 2019
This report was filed on 20 March 2019
and approved by Jason Holbrook
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 75%
- in 31 to 60 days: 15%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 28 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
30 days
Standard payment terms
Standard payment terms are normally 30 days except for payment for agency staff and the like which are shorter.
Were there any changes to the standard payment terms in the reporting period?
Yes – All standard payment terms are now 30 days or less
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Queries go to the finance department in the first instance. They are responsible for following up with budget holder and seeking a resolution with the supplier.
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