THE EVOLVE TRUST
Company number: 07827747
Reporting period:
1 March 2020 to 31 August 2020
Report filed on:
29 September 2020
Approved by:
R Aitken
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 41%
- in 31 to 60 days: 37%
- in 61 days or more: 22%
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: 66%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
We do not currently have standard payment period as an organisation, the most commonly used payment period is 30 days which we use for the majority of our supplier base.
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 further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
In the case of a dispute arising regarding payment of invoices, the supplier should contact the Finance office as per the following: The Brunts Academy E-mail: accounts@brunts.evolvetrust.org Phone: 01623 623149 The Beech Academy E-mail: office@beech.evolvetrust.org Phone: 01623 626008 The Bramble Academy E-mail: accounts@brunts.evolvetrust.org Phone: 01623 623149 Resolutions raised with the above, will be dealt reviewed and an explanation provided within 5 working days. Where the dispute / concern requires further investigation, this will be explained to the supplier with a suitable timescale agreed. Where a resolution cannot be reached with the supplier, either the above contacts or the supplier should then contact the Trust Finance Director: Barbara Sims – bsims@evolvetrust.org 01623 348100
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