REACH SOUTH ACADEMY TRUST
Company number: 10151730
Reporting period:
1 September 2019 to 29 February 2020
Report filed on:
25 March 2020
Approved by:
Michelle Wilkins
Payment statistics
Average time taken to pay invoices: 13 days
Invoices paid:
- within 30 days: 97%
- in 31 to 60 days: 2%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
30 days
Standard payment terms
Standard terms of 30 days from
the latter of; date of invoice or
receipt of invoice, for all
qualifying contracts.
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
30 days
No
Any other information about payment terms
No
Dispute resolution process
Suppliers wishing to query a payment should either send an email to invoices@reachsouth.org or
phone 01752 422956. The Trust operates a Shared Service Centre (SSC) that processes invoices and
payments on behalf of all schools in the Trust. The SSC team will address supplier queries within 24
hours. If the supplier is unsatisfied with the response, the supplier should communicate this back
and the SSC team will escalate the dispute to the Trust’s Financial Controller, who in turn can
escalate it to the Finance Director if required.
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