EDUCATION DEVELOPMENT TRUST
Company number: 00867944
Reporting period:
1 September 2023 to 29 February 2024
Report filed on:
25 March 2024
Approved by:
Robert Humphreys
Payment statistics
Average time taken to pay invoices: 22 days
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 15%
- in 61 days or more: 2%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 17%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Our standard payment terms are 30 days from receipt of a correctly addressed invoice. The invoice must include a valid Education Development Trust purchase order number or the invoice will be returned to the supplier. The only exception to this is for invoices for utilities, where a purchase order is not required. Our standard payment method is BACS.
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Payment queries should be addressed to the Transactional Processing Team at Head Office, who will then work with the relevant internal department to resolve. Disputes directly relating to the delivery of the goods or the supply of services will be resolved between the supplier and the individual who placed the order,
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