BRADGATE EDUCATION PARTNERSHIP
Company number: 08168237
Reporting period:
1 September 2022 to 28 February 2023
Report filed on:
27 November 2023
Approved by:
Gareth Nelmes
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 14%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 25%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
The Trust policy is to raise a purchase order for all purchases. Our standard payment terms are 30 days. The shortest payment term is for staff expenses (14 days).
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
Maximum contractual payment period of 60 days may be utilised for large capital contracts which are agreed during the tender process.
Any other information about payment terms
All payments are made by BACS for efficiency.
Dispute resolution process
Where disputes are unavoidable, each school will work with the central team to try to resolve in the first instance. Escalation process is as follows:
Operations Finance Manager
CFO
CEO
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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