CATHOLIC AGENCY FOR OVERSEAS DEVELOPMENT
Company number: 09387398
Reporting period:
1 April 2020 to 30 September 2020
Report filed on:
19 December 2020
Approved by:
Chris Perry
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 71%
- in 31 to 60 days: 18%
- in 61 days or more: 11%
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: 30%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
CAFOD’s standard terms for the payment of supplier invoices are 30 days from the date of invoice. Where contracts for services are agreed with particular suppliers that include payment terms of under 30 days, CAFOD’s practice is to settle these supplier invoices within the agree payment period. CAFOD’s standard payment practice is to run a weekly payment run settled through BACS payment to the suppliers nominated bank account, for all invoices were payment is due (by our standard terms or contractor specific terms).
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
30 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Any disputes with suppliers about payments due will be dealt with by the CAFOD Finance Department. CAFOD does not keep a record of the date invoices were received, but does keep a systematic record of the Invoice date and the payment date. We do make additional payments out of the weekly cycle to suppliers where payment may be beyond agreed terms, due to administrative delays.
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