THE PAPWORTH TRUST
Company number: 00148906
1 April 2018
to 30 September 2018
This report was filed on 29 October 2018
and approved by Richard Norton
Average time taken to pay invoices: 38 days
- within 30 days: 43%
- in 31 to 60 days: 45%
- in 61 days or more: 12%
Invoices due but not paid within agreed terms: 57 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
30 days from date of invoice
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Papworth Trust has dedicated accounts payable staff who are available and responsible for dealing with invoicing queries and concerns. Disputes, when occurring, should be directed to the accounts payable team who will resolve queries directly with the individual responsible for procuring the associated goods or services.
If the query cannot be resolved appropriate queries can be escalated to the Financial Controller or the appropriate Director for consideration.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?