PRIOR PARK EDUCATIONAL TRUST
Company number: 01521832
Reporting period:
1 September 2017
to 28 February 2018
This report was filed on 22 March 2018
and approved by John Gerard Hickie
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 36%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 42 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
Standard payment terms To pay invoices within 30 days, subject to them being approved by the budget holder within that period and not being under query. We also run 2 BACs runs per month so it also depends when the due date falls in relation to the BACs run date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
We assume 30 days payment terms for all contracts if it isn't specified
Any other information about payment terms
N/A
Dispute resolution process
We haven't had any disputes since I have been in role (2 years).
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