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COGNITA SCHOOLS LIMITED

Company number: 02313425

Reporting period:
1 March 2018 to 31 August 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 28 September 2018

and approved by Daniel Ratcliffe

Payment statistics

Average time taken to pay invoices: 42 days

Invoices paid:

• within 30 days: 64%
• in 31 to 60 days: 21%
• in 61 days or more: 15%

Invoices due but not paid within agreed terms: 43 %

Payment terms

Shortest standard payment period

21 days

Longest standard payment period

60 days

Standard payment terms

General payment terms are 30 days, but will vary for up to 60 days for large national accounts.

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

N/A

Dispute resolution process

Cognita aims to avoid payment disputes by agreeing upfront clear payment and contract arrangements. These are either as specified in standard Cognita terms and conditions, or where agreed, via the supplier's own terms and conditions as specified in the supplier's contract.
The company's policy is to discuss any subsequent payment dispute on a timely basis, and where possible, seek a mutually acceptable resolution.

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.

Yes

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