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CHARITIES TRUST

Company number: 02142757

Reporting period:
1 May 2021 to 31 October 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 November 2021

and approved by Graham Morris

Payment statistics

Average time taken to pay invoices: 18 days

Invoices paid:

• within 30 days: 97%
• in 31 to 60 days: 3%
• in 61 days or more: 0%

Invoices due but not paid within agreed terms: 3 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

30 Days from receipt of invoice.

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

Charities Trust aims to pay suppliers of goods and services within its standard payment terms of 30 days from receipt of invoice. In the event that a dispute arises in relation to payment, the following staged process is in place to achieve resolution.
Stage 1
Dispute is raised with Charities Trust’s Head of Finance. The Head of Finance investigates the matter and responds to the supplier within 5 working days.
Stage 2
If the supplier is dissatisfied with the outcome of stage 1, the dispute is referred to Charities Trust’s Chief Governance Officer. The Chief Governance Officer investigates and responds to the supplier within 5 working days of stage 2 commencing.
Stage 3
If the supplier is dissatisfied with the outcome of stage 2, the dispute is referred to Charities Trust’s Chief Executive Officer. The Chief Executive Officer investigates and responds to the supplier within 5 working days of stage 3 commencing.
Stage 4
If the dispute has not been resolved to the satisfaction of the supplier at the end of stage 3, the matter is referred to Charities Trust’s Chair of the Finance & Audit Committee. The Chair will investigate and respond to the supplier within 5 working days. This is the final stage of Charities Trust’s dispute resolution process. In the unlikely event that the matter is still unresolved, the supplier is at liberty to take independent advice.

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