LIVERPOOL HOPE UNIVERSITY
Company number: 03285547
Reporting period:
1 August 2018
to 31 January 2019
This report was filed on 5 July 2019
and approved by Sue Beecroft
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 84%
- in 31 to 60 days: 10%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 16 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Unless otherwise stated in the Order, the University shall pay the Price of the Goods and the Services within thirty (30) days after the end of the month of receipt by the University of a proper invoice or monthly statement of account (as applicable) or, if later, after acceptance of the Goods or Services in question by the University.
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
Disputes shall be resolved by the Faculty / Department directly. Matters shall then be escalated to the University's in-house Solicitor.
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