CMS CAMERON MCKENNA NABARRO OLSWANG LLP
Company number: OC310335
Reporting period:
1 October 2025 to 31 March 2026
Report filed on:
30 April 2026
Approved by:
Barbara Mendler
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: 16 days
Total value paid:
- within 30 days: £237,751,168 (92%)
- in 31 to 60 days: £15,371,875 (6%)
- in 61 days or more: £6,375,461 (2%)
Invoices paid:
- within 30 days: 93%
- in 31 to 60 days: 4%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £2,304,450
- payments due in the reporting period which have not been paid within the agreed period: 4%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Payment Terms Overview
Standard payment period:
CMNO pays valid invoices within 30 days of receipt.
Invoice must clearly state charges, related services/milestones, and VAT if applicable.
Supplier provides supporting details for verification.
Longest payment period:
Up to 60 days, but only if this is explicitly agreed in the Statement of Work.
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
365 days
This maximum applies only to construction fit‑out contracts. In limited, project‑specific circumstances, different terms may apply where these are expressly agreed as part of the relevant construction or fit‑out arrangement.
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:
Retention clauses are used only in limited and project‑specific circumstances, primarily in relation to construction or fit‑out contracts with main contractors. CMNO does not contract directly with subcontractors.
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:
Where retention clauses are applied, CMNO uses retention in construction contracts to ensure that any defects or outstanding remedial works are addressed before final payment is made. Retention is negotiated on a contract‑by‑contract basis and generally falls within a range of 3–5%, depending on the nature of the works.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Where retention is applied, retained sums are released in line with the relevant construction contract. This typically involves meeting with the contractor to review and confirm completion of any outstanding snagging or remedial items, after which the retained amount is released.
Is the money released in stages?
No
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
3%
Amount retained stated as a percentage of the total construction payments made by this business
0%
Dispute resolution process
Dispute Resolution Summary
Our contracts include a structured, non-binding escalation process:
Level 1: Project Managers attempt resolution.
Level 2: Escalate to Head of Procurement and Supplier lead.
Level 3: Managing Partner and Supplier CEO.
If unresolved after Level 3, the parties may agree to refer the matter to arbitration under LCIA Rules, seated in London, in English. Arbitration is the preferred recourse where appropriate, ensuring fairness and efficiency. Either party may still seek urgent court relief at any time.
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