THE UNIVERSITIES AND COLLEGES ADMISSIONS SERVICE
Company number: 02839815
Reporting period:
1 August 2020 to 31 January 2021
Report filed on:
25 February 2021
Approved by:
Thomas Chambers
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 42%
- in 31 to 60 days: 54%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 56%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
UCAS’ standard payment terms are 60 days. Full terms can be found at http://www.ucas.com/corporate/about-us/terms-and-conditions/ucas-terms-and-conditions-contractors-and-suppliers/ucas-group-terms-and-conditions-supply-goods-and-services
Were there any changes to the standard payment terms in the reporting period?
During 2020 our procurement policy was reviewed which resulted in our standard payment terms being amended to 60 days.
Were suppliers notified or consulted about these changes before they were made?
Any new supplier accounts being set up since Autumn 2020 have been issued with our purchase order Ts&Cs which quote standard payment terms of 60 days. The above also applies to any contract renewals with existing suppliers that have taken place since Autumn 2020.
Maximum contractual payment period agreed
180 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
UCAS aims to pay all its suppliers within the agreed terms. The organisation’s purchase order system is overseen by the Commercial team, and UCAS operates a dedicated email inbox for supplier invoices, to ensure efficient receipt and processing. In the event of any queries or disputes, the Accounts Payable team may be contacted via email or telephone in the first instance. If a dispute cannot be resolved by the team, it may be escalated first via the Financial Controller or the original requisitioner, and, if necessary, to the appropriate Head of Department.
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