ROYAL CONSERVATOIRE OF SCOTLAND
Company number: SC004703
Reporting period:
1 February 2019 to 31 July 2019
Report filed on:
15 August 2019
Approved by:
Jeffrey Sharkey
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 54%
- in 31 to 60 days: 45%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 2%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
59 days
Standard payment terms
RCS standard payment terms for all purchases of goods and services and contracts relating to visiting artists are the end of the month following the month in which the invoice is dated (30-59 day maximum) providing that all trading terms and conditions have been fulfilled.
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
58 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If there is a disputed purchase invoice the supplier should initially contract the department that raised the order. If there is no resolution at this point the supplier should contact the Finance Administrator by email accounts@rcs.ac.uk or phone 0141 332 4101. For disputed contractual visiting artist payments the artist should contact the Payroll Manager by email payroll@rcs.ac.uk or phone 0141 270 8232
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