MOWBRAY EDUCATION TRUST LIMITED
Company number: 07796947
Reporting period:
1 September 2018 to 28 February 2019
Report filed on:
29 March 2019
Approved by:
Elaine Welsh
Payment statistics
Average time taken to pay invoices: 49 days
Invoices paid:
- within 30 days: 20%
- in 31 to 60 days: 60%
- in 61 days or more: 20%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 22%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
End of month following - average 45 days
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The initial point of contact is the central finance team. The finance team will then raise the query with the budget holder and aim to seek a resolution between the budget holder and the supplier. If the supplier is not happy with the resolution reached the next level of escalation would be the CFO, followed by the CEO. Following the successful resolution of a query any payment due would be included on the next scheduled payment run.
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