THE KING'S FOUNDATION
Company number: SC331738
Reporting period:
1 October 2023
to 31 March 2024
This report was filed on 30 April 2024
and approved by Dame Sue Bruce
Payment statistics
Average time taken to pay invoices: 26 days
Invoices paid:
- within 30 days: 78%
- in 31 to 60 days: 15%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 24 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
30 days from date of invoice, or date of receipt if invoice is delayed by the supplier.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
74 days
Any other information about payment terms
N/A
Dispute resolution process
All queries should be directed to Accounts Payable via their dedicated email address. Depending on the issue, they may need to refer to the department who instructed the goods/service and will identify the person from the company who will be able to resolve the problem or dispute. The supplier is then contacted to discuss the offered solution.
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