RED KITE LEARNING TRUST
Company number: 07523507
Reporting period:
1 September 2017
to 28 February 2018
This report was filed on 27 March 2018
and approved by Steve Howell
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 43%
- in 31 to 60 days: 37%
- in 61 days or more: 20%
Invoices due but not paid within agreed terms: 58 %
Payment terms
Standard payment period for qualifying contracts
30 days
Standard payment terms
The most frequently used payment terms are 30 days from date of invoice.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
30 days
Any other information about payment terms
N/A
Dispute resolution process
The supplier should initially contact the Trust Purchase Ledger Team who will liaise with the Orderer. If the purchase ledger team member is unable to resolve the issue then it should be escalated to the Purchase Ledger Team Leader and if necessary beyond that it would be referred to the Financial Controller and then the Chief Finance Officer of the Trust.
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