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GUILDFORD EDUCATION PARTNERSHIP

Company number: 07649091

Reporting period:
1 September 2019 to 29 February 2020

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

This report was filed on 9 April 2020

and approved by Fergal Roche, Chairman of Board of Trustees

Payment statistics

Average time taken to pay invoices: 10 days

Invoices paid:

• within 30 days: 96%
• in 31 to 60 days: 3%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 9 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

Suppliers dictate payment terms, which vary as follows:
- A minority are to be paid immediately, with a larger number of suppliers requesting 5, 7 and 14 days.
- The majority of suppliers offer 30 days
- One supplier offers 60 days

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

Suppliers contact the relevant procuring finance office in the first instance (school-based or central). Local disputes can be escalated to the School Business Manager and central disputes to the GEP Financial Controller, and in turn the Chief Operating Officer. Should the issue remain unresolved through informal means, a supplier can complain via https://www.gepacademies.com/complaints/.

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