OCTAVIUS INFRASTRUCTURE LTD.
Company number: 10735268
Reporting period:
1 April 2025 to 30 September 2025
Report filed on:
31 October 2025
Approved by:
Philip Moses
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: 22 days
Total value paid:
- within 30 days: £160,349,070 (88%)
- in 31 to 60 days: £21,413,079 (12%)
- in 61 days or more: £1,406,734 (< 1%)
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 20%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £42,958,076
- payments due in the reporting period which have not been paid within the agreed period: 28%
- not made in the reporting period due to a dispute: 8%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
Octavius does not have standard payment terms. They are agreed with suppliers as part of contract negotiations. The most frequently used payment terms in the reporting period were 30 days.
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
60 days
N/A
Any other information about payment terms
N/A
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Retention is applied within our subcontracts, when the contract with our customer includes retention. Ie Octavius apply back to back contractual principles
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?
Yes:
Retention clauses are back to back with the main customer contract and therefore are no more onerous than those applied to Octavius
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
The subcontractor must contact the commercial team who will confirm whether the subcontractor has or has not met the criteria for retention release detailed within the contract. If they have not met the criteria the commercial team will advise on what steps are required to trigger retention release. If they have met the criteria for retention release, they will ask the subcontractor to submit an application for payment for retention release to go through the webcontractor online portal in the usual way. Upon submission this will go through the usual approval processes and payment will be made on a weekly BACS payment run alongside all other payments to the supply chain.
Is the money released in stages?
Yes:
Yes its common practice to release 50% after an initial period and the balance at the end of the retention period
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
34%
Amount retained stated as a percentage of the total construction payments made by this business
1%
Dispute resolution process
Disputes can be sent to the finance team (finance@octavius.co.uk) who will aim to resolve. If no resolution achieved, suppliers can escalate to CFO.
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.
Yes
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