UNIVERSITY OF WINCHESTER
Company number: 05969256
Reporting period:
1 August 2020 to 31 January 2021
Report filed on:
9 February 2021
Approved by:
Simon Day
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 66%
- in 31 to 60 days: 25%
- in 61 days or more: 9%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 16%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
45 days
Standard payment terms
Our standard payment terms are within 31 days after that end of the month of receipt by the Buyer of a valid invoice or after acceptance of the Goods or Services in question by the Buyer whichever is the later. However, we may also pay immediately to secure some goods and services for events etc.
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
45 days
No further comment provided
Any other information about payment terms
Our standard payment terms are within 31 days after that end of the month of receipt by the Buyer of a valid invoice or after acceptance of the Goods or Services in question by the Buyer whichever is the later. However, we may also pay immediately to secure some goods and services for events etc. Some payments account are made where required.
Dispute resolution process
Any invoice that is in dispute is referred to the relevant buyer/approver. The accounts payable team may provide assistance but does not have the appropriate knowledge of whether goods/services have been delivered and to the expected quality and therefore are not responsible for resolving disputes.
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