GOV.UK
OUTWOOD GRANGE ACADEMIES TRUST
Company number: 06995649
Reporting period:
1 March 2021
to 31 August 2021
This report was filed on 25 March 2022
and approved by Ben Waterman
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 86%
- in 31 to 60 days: 9%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 17 %
Payment terms
Shortest standard payment period
5 days
Longest standard payment period
45 days
Standard payment terms
Our standard payment terms are 30 days from the date of invoice, unless otherwise agreed with the supplier. The majority of our suppliers are on these terms although some are on shorter terms. Local Authorities are on between 5 and 14 days. Building contractors are on 14 days.
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
The Trust operates an electronic ordering system where a purchase order is raised and sent to the supplier. If suppliers do not use the PO reference on their invoices this can delay payment. If there are any queries on the invoice then finance contact the supplier to resolve. Payment is not made until the goods / service issue is resolved or a credit note is issued. This can cause payments to appear to be paid late as we will not make payment until all queries have been resolved. The system does not record the period in which the invoice was in dispute. The payments that are paid late are mainly attributable to 3 of our main suppliers where the goods ordered by their nature are low value high volume orders. We have contacted our main suppliers and none of them have any concerns over our payment practices and state that we pay on time.
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