THE BRANDON TRUST
Company number: 02365487
Reporting period:
1 April 2021 to 30 September 2021
Report filed on:
22 October 2021
Approved by:
Benjamin McGinn
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 87%
- in 31 to 60 days: 8%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 24%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
30 days
Standard payment terms
We use a combination of 7 day payment terms with most of our suppliers who are agency and 30 days with the rest
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
30 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
This would depend on the issue/type of supplier. For example if an agency invoice is incorrect then the department who booked the shifts would resolve directly with the supplier. In most other cases our purchase ledger team would resolve directly with the supplier with the help of the budget holder/department who have sourced the service/goods. On rare/difficult occasions this would be escalated to management
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