UNITY SCHOOLS TRUST
Company number: 07692130
Reporting period:
1 September 2020 to 28 February 2021
Report filed on:
22 April 2021
Approved by:
Mr Tim Smith
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 18%
- in 61 days or more: 2%
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: 31%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
We would normally expect to settle invoices within a 30 day period
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
90 days
We would endeavour to settle invoices within the 30 day period but there are occasions when longer periods are required or when there are extenuating circumstances such as during the pandemic lockdown periods.
Any other information about payment terms
No further comment provided
Dispute resolution process
Any complaints are dealt with on a case by case basis. Initially investigations would be undertaken by finance managers of individual sites and then an opportunity to escalate complaints would be made to the Chief Financial Officer
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