CHILDREN FIRST ACADEMY TRUST

Standard payment terms a. The Supplier shall invoice the Customer for I.
(if this contract is for the supply of goods only) the Goods no sooner than
completion of delivery of the Goods or, if later, the Customer’s acceptance of the Goods or otherwise II. (if this contract is for the supply of goods and services no sooner than Completion of the Deliverables. b. The Price for the Goods/Services shall become due upon receipt of the invoice by the Customer (the “Due Date”) c. The final date of payment of the Price shall be 30 days (unless otherwise agreed) from the due date (the “Final Date of Payment”) d. To the extent that the Customer wishes to make any deductions from the Price to be paid to the Customer, he/she shall notify the Customer in writing no later than 7 days before the Final Date of Payment by the issue of a Pay Less Notice to the Customer. Where the Customer has issued a Pay Less Notice to the Supplier, the price to be
paid for the Deliverables shall be the price stated in the Pay Less Notice. VAT shall be charged by the Supplier and paid by the Customer at the then applicable rate. f. If any invoice is disputed, the Trust Central Finance team (who can be contacted by phone or email) will contact the Supplier and
resolve the dispute in a timely manner. The Supplier will be required to
provide proof of delivery or other evidence (of compliance to the terms of
procurement (Order) including place and time of delivery) upon request, in case of dispute. Payment of Goods or Deliverables shall not be conclusive evidence that Completion has occurred or that the Goods or Deliverables are compliant or satisfactory. g. Where sums due under the Contract are not paid in full by the Final Date of Payment, to compensate the Supplier for all loss from the Customer’s breach, the Customer shall pay on the sum of overdue interest (before and after judgement) on a daily basis from 30 days after the Final Date of Payment until payment in full at the rate of 5 per cent per annum above the official bank rate from the time to time of the Bank of England. The Supplier acknowledges that this is the substantial remedy for the purposes of Late Payment of Commercial Debts (Interest) Act 1998.

If any invoice is disputed, the Trust Central Finance team (who can be contacted by phone or email) will contact the Supplier and resolve the dispute in a timely manner. The Supplier will be required to provide proof of delivery or other evidence (of compliance to the terms of procurement (Order) including place and time of delivery) upon request, in case of dispute. Payment of Goods or Deliverables shall not be conclusive evidence that Completion has occurred or that the Goods or Deliverables are compliant or satisfactory.

At all times the team will endeavour to resolve disputes as quickly as possible so that correct payment can be made and to facilitate ongoing good supplier relationships.