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THE UNIVERSITY OF CHICHESTER

Company number: 04740553

Reporting period:
1 February 2021 to 31 July 2021

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

This report was filed on 19 August 2021

and approved by Professor Jane Longmore

Payment statistics

Average time taken to pay invoices: 21 days

Invoices paid:

• within 30 days: 75%
• in 31 to 60 days: 24%
• in 61 days or more: 1%

Invoices due but not paid within agreed terms: 62 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

30 days from invoice date

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

N/A

Dispute resolution process

The University is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone’s satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts Payable team, it would escalated in the first instance to the relevant Head of Department to seek a resolution. If resolution cannot be reached then the issue is escalated to the Chief Financial Officer/Director of Finance.

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