TEACH FIRST
Company number: 04478840
Reporting period:
1 March 2020 to 31 August 2020
Report filed on:
25 September 2020
Approved by:
Alison Duncan
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 85%
- in 31 to 60 days: 12%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 14%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Standard payment terms for supply of services: 6.2 The Supplier shall invoice the Charity for the Charges that are payable as set out in Schedule 2. The Charity shall pay each invoice which is properly due and submitted by the Supplier, within 30 days of receipt, to a bank account nominated in writing by the Supplier. 6.3 The Charity shall be entitled to deduct from the Charges and any other sums due to the Supplier any sums that the Supplier may owe to the Charity at any time. The Charity shall also be entitled to withhold payment of the Charges (or any part of the Charges) in the event it is not satisfied (acting reasonably) with the quality of delivery of the Services, until such time as it is satisfied." Standard payment terms for consultancy agreements: "4b) Provided Teach First is satisfied with the quality of delivery of the Services, Teach First shall pay each invoice submitted by the Consultant in accordance with Sub-clause 4(a) within 30 days of receipt. Teach First reserves the right to withhold payment of the fees specified in Sub-clause 4(a) (or any part of the fees) in the event it is not satisfied (acting reasonably) with the quality of delivery of the Services, until such time as it is satisfied.
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
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Initial queries about payments should be directed to accountspayable@teachfirst.org.uk Teach First aims to pay all invoices with a valid Purchase Order within 30 days of receipt as standard. Invoices without a Purchase Order number may be queried internally and/or returned to the supplier. Disputes from Teach First will be raised to a contact name listed on the invoice to us. Disputes raised by a supplier over missing or late payment may be raised to Steve Porter, Executive Director of Charity Services in the first instance or to the Governance, Legal and Compliance department. Should a dispute arise related to satisfactory quality of services the parties shall attempt to settle it by negotiation. The process will be handled by the Governance, Legal and Compliance department who are contactable at governance@teachfirst.org.uk. Alternatively a supplier can write to the Company Secretary, Teach First, 6 Mitre Passage, Greenwich, London SE10 0ER. Complaints should be made within three months of the relevant incident. A complaint will be acknowledged within 10 working days of receiving it and Teach First will send a formal response as quickly as we can, but within 20 working days.
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