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KENTON SCHOOLS ACADEMY TRUST

Company number: 07964133

Reporting period:
1 September 2018 to 28 February 2019

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

This report was filed on 2 April 2019

and approved by Victoria Robinson

Payment statistics

Average time taken to pay invoices: 5 days

Invoices paid:

• within 30 days: 97%
• in 31 to 60 days: 2%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 0 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

30 days

Standard payment terms

In consideration of the supply of Goods and or Services by the Supplier, the Customer shall pay the invoiced amounts within 30 days of the date of a correctly rendered invoice to a bank account nominated in writing by the Supplier

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

No

Maximum contractual payment period agreed

30 days

N/A

Any other information about payment terms

N/A

Dispute resolution process

The Trust operates an electronic ordering system where a purchase order is raised and sent to the supplier. If suppliers do not use the PO reference on their invoices this can delay payment. If there are any queries on the invoice then finance contact the supplier to resolve. Payment is not made until the goods / service issue is resolved or a credit note is issued. This can cause payments to appear to be paid late as we will not make payment until all queries have been resolved.

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