STUDY GROUP UK LIMITED
Company number: 03108030
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 17 August 2021
and approved by Alison Alfers
Payment statistics
Average time taken to pay invoices: 24 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 17%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 59 %
Payment terms
Standard payment period for qualifying contracts
45 days
Standard payment terms
Standard contractual payment terms are 45 days. Payments terms are agreed with suppliers in advance of supply.
The company will accept supplier terms if the supplier does not agree to the standard terms, for example in the case of subcontractors and individuals.
The maximum contractual payments terms are 45 days.
For large building / maintenance contracts stage payments and terms are agreed with the supplier in advance
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
Any other information about payment terms
N/A
Dispute resolution process
Queries should be emailed to Finance. Queries are monitored and managed by the Accounts Payable team and responded to within 48 hours. Unresolved queries are escalated to the Accounts Payable Manager and subsequently to the Head of Shared Services.
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