THOMAS DEACON EDUCATION TRUST
Company number: 05090788
Reporting period:
1 March 2024 to 31 August 2024
Report filed on:
11 September 2024
Approved by:
Adam Stevens
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 41%
- in 31 to 60 days: 53%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 11%
Payment terms
Shortest standard payment periods
25 days
Longest standard payment period
56 days
Standard payment terms
Payable on the 25th of the month following the month in which the invoice was dated.
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
56 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Initial contact is with the central finance team. Appropriate queries from suppliers are raised with the respective budget managers within the Trust. Following resolution to the query, which may take up to 10 days, we will either:
- Revert back to the supplier with validated reasons for non-payment;
- Include payment with the due payments on the next available payment run.
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