BAM CONSTRUCT & VENTURES UK LIMITED
Company number: 03311781
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
29 July 2026
Approved by:
Kim Sides
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: 29 days
Total value paid:
- within 30 days: £202,164,000 (55%)
- in 31 to 60 days: £160,642,000 (44%)
- in 61 days or more: £2,845,000 (< 1%)
Invoices paid:
- within 30 days: 79%
- in 31 to 60 days: 19%
- in 61 days or more: 2%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £38,557,000
- 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: 4%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
55 days
Standard payment terms
BAM Construct & Ventures Ltd agrees payment terms with vendors as part of contract negotiations and in accordance with all applicable statutory and contractual requirements.
During the reporting period, the most frequently applied payment terms were as follows:
1) For contracts relating to the supply of goods and services: 30 days.
2) For contracts relating solely to the supply of goods: up to a maximum of 55 days.
3) For contracts associated with qualifying publicly funded projects: 30 days.
These terms represent BAM’s standard approach to payment across qualifying contracts, subject to project-specific requirements and contractual agreement.
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
55 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:
BAM Construct & Ventures Ltd applies retention where it is permitted under the client contract and where its use is considered appropriate following a risk-based assessment.
The decision to apply retention is not automatically determined by the client’s contractual position and is not normally influenced by whether a vendor is being engaged for the first time, by credit rating, project duration, or contract value.
Retention clauses are typically used where there is a material risk of defective or incomplete work that could expose BAM to additional cost should the vendor fail to rectify the works to the required standard.
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
Retention is released either on the date stated in the Payment Schedule appended to the contract for supply of goods and services or, where no such date is specified, when the subcontract works as a whole achieve Practical Completion. At that point, the vendor may apply for payment of the first half of the retention. Provided all obligations under the contract have been fulfilled, payment of the first release is made in accordance with the contract payment terms.
The remaining retention is released 18 months after the date of payment of the first release, subject to there being no defects, shrinkages, or faults in the subcontract works.
The vendor may then apply for payment of the balance, which shall be made in accordance with the contract payment terms. Where any defects, shrinkages, or faults remain outstanding, retention shall continue to be held until the vendor has satisfactorily made good the works.
Is the money released in stages?
Yes:
Typical subcontract retention clauses provide for the release of sums in stages: 50% release after completion of the subcontracted works, and the remaining 50% retention release following the end of the maintenance/defects 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
64%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
BAM Construct & Ventures Ltd is committed to the fair and transparent treatment of all members of its supply chain.
In the first instance, any complaints or disputes relating to payment or contractual matters are addressed by the relevant project team. Where appropriate, Supply Chain Relationship Managers will support the parties in seeking to resolve the issue.
If a matter remains unresolved, further resolution will be pursued through informal or formal mechanisms in accordance with the provisions of the contract. This may include escalation to appropriate independent senior management named in the contract and the use of mediation.
In the unlikely event that a dispute cannot be resolved through these channels, the matter will be referred to adjudication or, as a final step, determined through litigation.
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