UPPINGHAM SCHOOL
Company number: 08013826
Reporting period:
1 March 2020 to 31 August 2020
Report filed on:
29 September 2020
Approved by:
Barbara Matthews
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 70%
- in 31 to 60 days: 20%
- in 61 days or more: 10%
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: 34%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
The most frequently used payment term for qualifying contracts is 30 days from the date of the invoice. In relation to construction projects, the shortest period is 14 days from the date of the invoice, when requested by the contractor and supported by an architect's certificate.
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Initial queries are dealt with by the Accounts team. This department will liaise with the invoice approver to ascertain any extenuating circumstances. The aim of any conversation is always to resolve any issue in a timely and collaborative manner, in order to maintain a good working relationship. If those involved are unable to find a solution, then the issue would be escalated to managerial level and above.
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