DELTA ACADEMIES TRUST
Company number: 07386086
Reporting period:
1 October 2021
to 28 February 2022
This report was filed on 21 March 2022
and approved by Paul Tarn
Payment statistics
Average time taken to pay invoices: 20 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 17%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 20 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
30 days
Standard payment terms
Standard payment terms are 30 days however if days stipulated by supplier then under the terms of contract we would use the suppliers credit terms.
Were there any changes to the standard payment terms in the reporting period?
Yes –
Due to Covid 19 we reduced our supplier payment days for small companies to between 7 and 15 days up until 31 August 2021.
We returned to our standard term of 30 days from 1 Sept 2021.
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
Disputes are dealt with by the local finance office who to look to resolve queries and or disputes as quickly as possible in order that invoices can be settled quickly.
Academies can contact Head office for support where disputes are difficult to resolve.
Our complaints policy is included on all academy websites and the Trust main site.
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