BOVIS CONSTRUCTION (EUROPE) LIMITED
Company number: 00467006
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
29 October 2025
Approved by:
Jonathan Losyk
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? Yes
Payment statistics
Average time taken to pay invoices: 19 days
Total value paid:
- within 30 days: £172,709,104 (86%)
- in 31 to 60 days: £27,733,714 (14%)
- in 61 days or more: £333,178 (< 1%)
Invoices paid:
- within 30 days: 96%
- in 31 to 60 days: 4%
- in 61 days or more: 0%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £415,321
- payments due in the reporting period which have not been paid within the agreed period: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
45 days
Standard payment terms
The Company’s standard payment terms for non-construction contract related payments are 30 days. For construction contracts the payment terms are largely dependent on the specific requirements of individual projects. When calculating the number of days to make payment for construction contracts in this reporting period, the Company has reported the time to pay from the due date to the final date for payment. In prior periods it had added 7 days to reflect the general range of days between an application date and a due date for those contracts governed by the Housing Grant, Constriction and Regeneration Act 1996.
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
49 days
No further comment provided
Any other information about payment terms
The Company operates on standard payment terms of 30 days for non-construction-related contracts, unless the Company agrees to different terms requested by a supplier.
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
We hold retention on subcontractors on a back-to-back basis with our head contracts. If our head contracts do not hold retention against Bovis, we do not hold retention against our subcontractors. We do not hold any retention against any suppliers
Does this business only use retention clauses in construction contracts above a specific contract sum?
No
Does this business use a standard percentage rate in retention clauses?
No
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
We follow the provisions of our building contracts (typically JCT or NEC). Typically, 50% released on Practical Completion Certificate and the second 50% on achievement of Making Good Certificate.
Is the money released in stages?
Yes:
50% is generally released on Practical Completion Certificate and the second 50% on achievement of Making Good Certificate.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
86%
Amount retained stated as a percentage of the total construction payments made by this business
3%
Dispute resolution process
All queries regarding non-payment of invoices should be discussed with the Bovis contact as specified on the Bovis Purchase Order. Escalation can be managed through their Customer Service team. Further escalation will be managed internally when required. For any qualifying subcontracts, any dispute or difference between the parties are subject to the laws of England and Wales and the jurisdiction of the English courts. Payment under construction contracts is subject to statutory adjudication pursuant to the Housing Grant, Construction and Regeneration Act 1996. Only a very small proportion of our payments become subject to the adjudication and/or court proceedings.
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.
Yes, this business has signed up to: Prompt Payment Code
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