UNIVERSITY OF WOLVERHAMPTON MULTI ACADEMY TRUST
Company number: 08255492
Reporting period:
1 March 2018
to 31 August 2018
This report was filed on 30 September 2018
and approved by Professor Michelle Shaw
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 18%
- in 61 days or more: 16%
Invoices due but not paid within agreed terms: 34 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
30 days
Standard payment terms
Standard terms are 30 days unless specified by the supplier and agreed prior to the contract
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
365 days
Some large contracts (mainly service level agreements) are invoiced in total at the beginning of the financial year but paid over 12 monthly instalments to coincide with funding receipts.
Any other information about payment terms
N/A
Dispute resolution process
Some large contracts (mainly service level agreements) are invoiced in total at the beginning of the financial year but paid over 12 monthly instalments to coincide with funding receipts.
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