STOCKPORT GRAMMAR SCHOOL
Company number: 06261525
Reporting period:
1 September 2018
to 28 February 2019
This report was filed on 22 March 2019
and approved by C J Watson
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 43%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 47 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The School aims to pay all invoices submitted (excluding disputed invoices) within 30 days. Significant contracts including for building work or specialised professional advice are subject to specific payment terms and agreed before the contract commences.
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
Complaints or concerns relating to payment practices will, in the first instance, be considered and/or investigated by the purchase ledger clerk following receipt. Disputes are handled on a case by case basis with appropriate input from the Assistant Bursar or Bursar as considered necessary.
Supplier correspondence relating to invoices, changes to details and complaints should be sent for the attention of The Bursar via email to accounts@stockportgrammar.co.uk or by post.
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