BETA This is a new service – your feedback will help us to improve it.

ASSET EDUCATION

Company number: 09434926

Reporting period:
1 September 2020 to 28 February 2021

---

This information is as reported by the business, and responses are in their own words.

This report was filed on 15 March 2021

and approved by B Gostling

Payment statistics

Average time taken to pay invoices: 14 days

Invoices paid:

• within 30 days: 97%
• in 31 to 60 days: 3%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 22 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

30 days

Standard payment terms

ASSET Education aims to pay all suppliers in accordance with their payment terms and conditions unless there are queries on the invoice

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

30 days

Any other information about payment terms

Due to the pandemic, many invoices were delayed in being received in this period which resulted in less being paid within the terms on the invoice - of the invoices which were paid outside of these terms, over 50% were received by ASSET Education after the terms of payment had already expired.

Dispute resolution process

Escalate to central finance team who would take up query with management of supplier.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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