TEARFUND
Company number: 00994339
Reporting period:
1 October 2020 to 31 March 2021
Report filed on:
29 April 2021
Approved by:
John Shaw
Payment statistics
Average time taken to pay invoices: 29 days
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 12%
- in 61 days or more: 6%
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: 26%
Payment terms
Shortest standard payment periods
1 days
Longest standard payment period
Answer not provided
Standard payment terms
In so far as possible we seek to comply with the standard terms and conditions provided by the supplier on their invoice
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
28 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Tearfund's Transaction Processing Team in the Finance Department will at first instance review any queries addressed to them. If this was unsuccessful we would pursue whichever procedure for dispute resolution was agreed to in the contract with the 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 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.
Yes
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