GOV.UK
THE FRANCIS CRICK INSTITUTE LIMITED
Company number: 06885462
Reporting period:
1 October 2019
to 31 March 2020
Warning
This information is as reported by the business, and responses are in their own words.
This report was filed on 24 April 2020
and approved by Brian Gilvary
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 12%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 14 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
30 days
Standard payment terms
30 days from invoice date
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
60 days is a theoretical maximum for end of month plus one month suppliers.
Any other information about payment terms
N/A
Dispute resolution process
Day to day queries are resolved between the institute payables team and suppliers receivables and/or customer services teams. Escalation on both sides is through line management or via supplier account manager.
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.
Yes
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