AVONBOURNE INTERNATIONAL BUSINESS AND ENTERPRISE ACADEMY TRUST
Company number: 08080096
Reporting period:
1 March 2018
to 31 August 2018
This report was filed on 27 September 2018
and approved by Debbie Godfrey-Phaure
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 69%
- in 31 to 60 days: 21%
- in 61 days or more: 10%
Invoices due but not paid within agreed terms: 40 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
45 days
Standard payment terms
Standard payment terms are normally 30 days except for payment for agency staff and the like which are 7 days. Certain suppliers work on 45 days due to the specific arrangement of the contracts, for example catering supplies.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
n/a
Any other information about payment terms
n/a
Dispute resolution process
Queries go to the finance department in the first instance. They are responsible for following up with budget holder and seeking a resolution with the supplier.
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