MOYLE INTERCONNECTOR LIMITED
Company number: NI036562
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
28 October 2025
Approved by:
Gerard McIlroy
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: 28 days
Total value paid:
- within 30 days: £5,571,265 (96%)
- in 31 to 60 days: £176,363 (3%)
- in 61 days or more: £27,457 (< 1%)
Invoices paid:
- within 30 days: 83%
- in 31 to 60 days: 13%
- in 61 days or more: 4%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £630,019
- payments due in the reporting period which have not been paid within the agreed period: 17%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
42 days
Standard payment terms
Standard payment terms require payment of all undisputed sums properly due to third party suppliers within 30 days of a receipt of a valid invoice into the Accounts Payable department that references a Purchase Order number.
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
42 days
No further comment provided
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Moyle Interconnector Limited rarely uses construction contracts but where it does these are generally in line with the contractor's standard terms and conditions.
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?
Yes: 5%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
As Moyle Interconnector Limited do not operate in the construction industry, no retention clauses are imposed upon Moyle. The retention clauses are only applicable to the supplier working for Moyle directly.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Payments are made in line with terms of the contract.
Is the money released in stages?
Yes:
The payment release stages are outlined in the terms of the contract which are specific to each individual contract.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
100%
Amount retained stated as a percentage of the total construction payments made by this business
12%
Dispute resolution process
In the first instance all queries and/or disputes are to be taken up with the purchase order contact stated on the purchase order. For general purchase order or payment queries e-mails should be sent to our dedicated accounts email address.
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.
No, this business has not signed up to a code of conduct or standards on payment practices.
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