EASTBOURNE COLLEGE (INCORPORATED)
Company number: 00115408
Reporting period:
1 September 2020 to 28 February 2021
Report filed on:
23 July 2021
Approved by:
Charles Burrows
Payment statistics
Average time taken to pay invoices: 27 days
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 15%
- in 61 days or more: 6%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 15%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
Answer not provided
Standard payment terms
Standard payment terms are agreed with each supplier separately and are usually between 14 and 30 days. Payment runs are made weekly. Where there are individuals or small businesses every effort is made to make a payment as soon as possible.
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 query or dispute is dealt with in the first instance by the accounts payable team within 7 days. A supplier statement may be requested along with any missing invoices. Unresolved issues are referred to the Finance Director.
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