CHARITIES TRUST
Company number: 02142757
Reporting period:
1 May 2023 to 31 October 2023
Report filed on:
14 November 2023
Approved by:
Mark Blakeman
Payment statistics
Average time taken to pay invoices: 18 days
Invoices paid:
- within 30 days: 99%
- in 31 to 60 days: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 1%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
30 Days from receipt of invoice.
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
Charities Trust aims to pay suppliers of goods and services within its standard payment terms of 30 days from receipt of invoice. In the event that a dispute arises in relation to payment, the following staged process is in place to achieve resolution. Stage 1 Dispute is raised with Charities Trust’s Head of Finance. The Head of Finance investigates the matter and responds to the supplier within 5 working days. Stage 2 If the supplier is dissatisfied with the outcome of stage 1, the dispute is referred to Charities Trust’s Chief Governance Officer. The Chief Governance Officer investigates and responds to the supplier within 5 working days of stage 2 commencing. Stage 3 If the supplier is dissatisfied with the outcome of stage 2, the dispute is referred to Charities Trust’s Chief Executive Officer. The Chief Executive Officer investigates and responds to the supplier within 5 working days of stage 3 commencing. Stage 4 If the dispute has not been resolved to the satisfaction of the supplier at the end of stage 3, the matter is referred to Charities Trust’s Chair of the Governance Committee. The Chair will investigate and respond to the supplier within 5 working days. This is the final stage of Charities Trust’s dispute resolution process. In the unlikely event that the matter is still unresolved, the supplier is at liberty to take independent advice.
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