LEARNER ENGAGEMENT AND ACHIEVEMENT PARTNERSHIP MULTI-ACADEMY TRUST
Company number: 07361021
Reporting period:
1 March 2020 to 31 August 2020
Report filed on:
3 November 2020
Approved by:
Richard Wheatcroft
Payment statistics
Average time taken to pay invoices: 21 days
Invoices paid:
- within 30 days: 90%
- in 31 to 60 days: 7%
- 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: 24%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
40 days
Standard payment terms
Payment within 30 days
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
40 days
We will apply the payment terms as set out by each supplier and store those in our finance system so that the payments are picked up within their payment terms. If a payment term is not specified by the supplier we will then apply our standard payment term of 30days
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disputes would be handled by the finance officer in the relevant school in the first instance. If the issue cannot be resolved then we would direct the complainant to follow our complaints procedure.
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