STOWE SCHOOL LIMITED
Company number: 00187251
Reporting period:
1 September 2020 to 28 February 2021
Report filed on:
29 March 2021
Approved by:
Jonathan Bewes
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 67%
- in 31 to 60 days: 29%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 16%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
Our standard payment period is 30 days from invoice date, unless otherwise stated on the invoice. Small local suppliers generally have a standard payment period of 7 to 14 days. Some building contractors have a 14 day standard payment period. The 90 day standard payment period, relates to suppliers who need to fulfil their service for the full length of the school term.
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
90 days
n/a
Any other information about payment terms
No further comment provided
Dispute resolution process
Suppliers are provided with the e-mail address and telephone number of the Accounts Payable (AP) department on the remittances sent via e-mail and credit application forms. The AP department will receive and acknowledge receipt of the dispute within 24 hours and request any further information and documentation needed to support the dispute. If internal investigation is required the supplier will be informed that this action is being taken and will receive a response within three working days. If the supplier is not satisfied with the resolution by the AP department, the dispute is escalated to the Financial Controller for further investigation
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