AQA EDUCATION
Company number: 03644723
Reporting period:
1 October 2021
to 31 March 2022
This report was filed on 3 May 2022
and approved by Nick Stevens
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 24%
- in 31 to 60 days: 55%
- in 61 days or more: 21%
Invoices due but not paid within agreed terms: 61 %
Payment terms
Shortest standard payment period
1 days
Longest standard payment period
60 days
Standard payment terms
30 days are our standard terms but we also utilise a number of other terms ranging from immediate up to 60 days
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
we experienced a number of problems during this period which included a change in finance system that impacted on the payment of suppliers and led to an increase in the average number of days taken to pay. This has been resolved.
Dispute resolution process
Suppliers are requested to log any queries with AQA via a designated email address, this email address is monitored on a daily basis and any queries relating to overdue invoices are dealt with accordingly and resolved in a timely manner.
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