The average time taken for LONDON SCHOOL OF ECONOMICS & POLITICAL SCIENCE to pay invoices has increased over the three periods, going from 30 days in the first period to 33 days in the most recent period.
The percentage of invoices paid within 30 days has remained consistent at 91% in all three periods. However, there has been an increase in the percentage of invoices paid later than 60 days, going from 5% in the first period to 7% in the most recent period.
Overall, LONDON SCHOOL OF ECONOMICS & POLITICAL SCIENCE has shown a slight increase in the average time taken to pay invoices and a slight decrease in the percentage of invoices paid within agreed terms. However, the company has maintained a high percentage of invoices paid within 30 days throughout all three periods.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Feb 2019 - 31 Jul 2019 | 04 Sept 2019 | 31 | 91% | 4% | 5% | 9% |
| 01 Aug 2018 - 31 Jan 2019 | 04 Sept 2019 | 30 | 91% | 4% | 5% | 9% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard terms are 30 days nett from receipt of invoice
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
We use a ticketing system to deal with supplier queries and have an SLA of 2 working days for first response, and 5 working days for resolution. Rules are in place to escalate queries to senior staff at 12 and 30 working days. We use a ticketing system to deal with supplier queries and have an SLA of 2 working days for first response, and 5 working days for resolution. Rules are in place to escalate queries to senior staff at 12 and 30 working days. The School recognises its responsibility to deal fairly with its suppliers to ensure that they are able to sustain their businesses. To this end we work to pay all approved invoices in accordance with the agreed terms of payment, which are available on the School’s website.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
This is the registered entity for a long-established higher education institution based in central London. Companies House records list its nature of business as first-degree level and postgraduate level higher education, reflecting its role in delivering undergraduate and postgraduate academic courses. It was incorporated in 1901 and remains an active company. The supplied web evidence for this record describes an unrelated consulting business and does not relate to the institution's own activities, so no claims from that material have been used. Based on the official industry classification alone, the entity operates within the higher education sector, providing degree-level teaching and academic programmes rather than commercial consultancy services.
Generated from the company's website and Companies House records.