GREENHEART LEARNING PARTNERSHIP
Company number: 08255492
Reporting period:
1 March 2022
to 31 August 2022
This report was filed on 29 September 2022
and approved by Michelle Shaw
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 65%
- in 31 to 60 days: 21%
- in 61 days or more: 14%
Invoices due but not paid within agreed terms: 48 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Our standard payment terms are 30days but we make payments earlier than 30days if an invoice has been approved and goods/services received as agreed.
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
Invoice disputes are normally raised internally at the point where goods and service delivery is verified. Supplier is contacted to address any issues and if need be credit notes or refunds are raised. Any remaining outstanding amounts are paid accordingly.
Where disputes involve late invoice or non receipt of supplier invoices then the length it takes to resolve the query depends on how quick the supplier can provide copies of invoices for payment.
We also run internal supplier details ( especially bank details and VAT number) verifications for new suppliers and change of details. Late responses from new suppliers or amendments of details from existing suppliers can lead to invoices being paid late as we would not compromise our internal validation checks due to the rise, in general, of invoice fraud.
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