GMI CONSTRUCTION GROUP PLC
Company number: 01988606
Reporting period:
1 October 2024 to 31 March 2025
Report filed on:
8 January 2026
Approved by:
Kate Fancourt (McAvan)
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 32%
- in 31 to 60 days: 64%
- in 61 days or more: 4%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 14%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
45 days
Standard payment terms
The company operates a range of payment terms including 0 days, 7 days, 14 days, 30 days and 30 days EOM. Standard Supplier payment terms (excluding Subcontractors) are 30 days EOM
Standard Subcontractor payment terms are 45 days from the end of the valuation period, although a variety of terms operate from 7 days, 14 days, 30 days and 30 days EOM and 45 days EOM.
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
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
All standard agreements set out a dispute resolution process but the company will always seek to avoid disputes by first discussing matters directly with the supplier.
Invoice queries should be sent to accounts@gmi.co.uk. Subcontractor queries should in the first instance be directed to the relevant project team or commercial team and can also be sent to subcontract@gmi.co.uk.
In the unlikely event that a resolution cannot be reached quickly then it will be escalated to director level.
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