THE UNIVERSITIES AND COLLEGES ADMISSIONS SERVICE
Company number: 02839815
Reporting period:
1 February 2022
to 31 July 2022
This report was filed on 11 August 2022
and approved by Thomas Chambers
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 49%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 62 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
Standard payment terms
UCAS’ standard payment terms are 60 days from receipt of invoice, although specific terms may be agreed in advance for significant contracts, or where special conditions arise. Full terms can be found at http://www.ucas.com/corporate/about-us/terms-and-conditions/ucas-terms-and-conditions-contractors-and-suppliers/ucas-group-terms-and-conditions-supply-goods-and-services
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
180 days
Any other information about payment terms
N/A
Dispute resolution process
UCAS aims to pay all its suppliers within the agreed terms. The organisation’s purchase order system is overseen by the Commercial team, and UCAS operates a dedicated email inbox for supplier invoices, to ensure efficient receipt and processing.
In the event of any queries or disputes, the Accounts Payable team may be contacted via email or telephone in the first instance. If a dispute cannot be resolved by the team, it may be escalated first via the Financial Controller or the original requisitioner, and, if necessary, to the appropriate Head of Department.
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