LEIGH ACADEMIES TRUST

Standard payment terms

Payment terms are between 14 and 30 days. This is dependant on the supplier payment terms.

Were there any changes to the standard payment terms in the reporting period?

No information available

Any other information about payment terms

The current 23% late payment rate is directly attributable to the transition to a new accounting system, for which we have undergone rigorous learning. Fortunately, we are now getting accustomed to the system. We are committed to maintaining this improved performance and bringing the late payment metric back in line with our standard operational targets. In the majority of cases, suppliers were contacted to inform them of the situation and confirm that their payment terms had not changed

Maximum contractual payment period agreed

30

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.

❌

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.

❌

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.

❌

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?

❌

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available