THE GURKHA WELFARE TRUST
Company number: 05098581
Reporting period:
1 July 2019
to 31 December 2019
This report was filed on 4 March 2020
and approved by A Howard
Payment statistics
Average time taken to pay invoices: 12 days
Invoices paid:
- within 30 days: 98%
- in 31 to 60 days: 2%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 7 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Our policy is to pay within standard payment terms of 30 days. However in practice most invoices are paid significantly quicker than this.
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
Dispute resolution is initially between the supplier and the Trust lead member of staff.
Issues which cannot be resolved are escalated initially to the Head of Finance and subsequently to the Director. No issues have been escalated during this period.
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