Management Fees and Payment Terms

Introduction

Prospects recognises the benefits of subcontracting services to high quality organisations to support the objectives of national and regional agendas and the strategies of the commissioners and the company. Prospects acknowledges the expertise that other organisations can bring to the supply chain to: provide the opportunities for greater diversity of provision; improve the customer/learner experience; and support meeting the wider aims and objectives of the contracts we deliver.

Our supply chain partners represent a mix of public, private and third sector organisation ranging from SMEs to Local Authorities. Our approach to supply chain management ensures that we encourage excellence and fair treatment to support the development of healthy, high performing supply chains which we demonstrate through open, honest and transparent engagement encouraging innovation and collaboration.

Improving the quality of services

All of our supply chain partners are managed in line with our Supply Chain Management Framework with embraces the values of the Merlin Standard and the Common Accord.

The types of support that our supply chain partners can expect are:

  • A dedicated supply chain/partnership manager
  • Management Information systems where appropriate
  • Regular performance reports
  • Regular face to face review meetings
  • Support and guidance on Safeguarding, Equality & Diversity, Information Security Management and Health & Safety
  • Regular Service Development Forums providing opportunities to share best practice
  • Quality assurance visits, including support and guidance for:
    • Contract and funding compliance
    • Observation of practice
    • Policy development
    • Staff training and development
    • Annual self-assessment and development plan support
    • Customer and stakeholder engagement
Management Fees

Prospects applies a management fee across its supply chain based upon:

  • The commissioner's funding agreement for Prime Contractors
  • The level of 'risk' applied to the commissioner's funding agreement
  • The level of 'risk' applied to subcontracted delivery

The fee will be representative of the on-going management cost and high level support that Prospects provides to its supply chain partners and will range from 15% to 30% according to the above.

A full list of supply chain partner contracts and fees can be found here.

Payment Terms

Payments are made to all supply chain partners on a 30 day basis from the date of invoice, or as agreed in writing, providing accurate completion and receipt of all relevant claim evidence and documentation and subject to the terms and conditions of the subcontract.

Review and Publication

Any queries regarding this policy statement are discussed at procurement and implementation stages of contracting and can also be raised during regular review meetings.

This policy and all related procedures and processes will be reviewed annually.

Supply Chain Partners

Funding Opportunities

National Careers Service West Midlands Partnering Opportunity

Management Fees and Payment Terms

Merlin Mediation Service

Policy Templates

Supply Chain Core Values

Sustainable Development and Equalities

Training and Development