ERIC WRIGHT CONSTRUCTION LIMITED
Company number: 00190204
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
29 July 2026
Approved by:
Jeremy Hartley
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: 27 days
Total value paid:
- within 30 days: £11,272,955 (45%)
- in 31 to 60 days: £13,631,072 (54%)
- in 61 days or more: £301,154 (1%)
Invoices paid:
- within 30 days: 73%
- in 31 to 60 days: 25%
- 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: £1,432,927
- payments due in the reporting period which have not been paid within the agreed period: 13%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
All payment terms are generally 30 days. For purchase ledger this will be 30 days from invoice date. In respect of subcontractor payments, these terms are 30 days from the due date of the application for payment, the due date being dictated by the payment schedule bound within the terms of the Sub-Contract. The contracts all state a latest application date which is 3 days prior to the due date. The payments are then made within no more than 30 days from the due date of the application.
As this report requires reporting based on "invoice date" these subcontractor payments may fall into the 30 - 60 day aged data category, however they have in fact been paid on time. Over 95% of invoices and subcontractor payments are actually settled within contracted payment terms.
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
30 days
Note that regarding subcontract, this is 30 days from the due date within the contract. The application document date or date the application is received may be earlier than the due date however the payment date is fixed within the contract.
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
All construction contracts include retention clauses.
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: 3%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
The retention percentage is no higher than that applied to the business by its customers. Retention is usually set at the same % as the main contract.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Supply chain retentions are released in accordance with the terms of the relevant contract and are no more onerous than those applied to Eric Wright Construction on the same project.
Is the money released in stages?
Yes:
If a project has various sectional completion dates, we will release retention to reflect these stages, if there is a single PC date then retention is released accordingly.
Typically, retention is released in two stages: part on practical completion and the balance following expiry of the defects liability/rectification period and satisfactory completion of any outstanding defects.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
41%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
Purchase ledger invoices – suppliers should contact the accounts department in relation to queries. Disputes will be resolved with the assistance of personnel ordering the goods or services and invoice processing is subject to completed purchase orders and appropriate receipt or proof of delivery. Queries or disputes in relation to subcontractor payments should be addressed in the first instance to the relevant Quantity Surveyor or to the Subcontract Ledger Clerk within the accounts department. Any unresolved issues thereafter can be referred to the surveying / Commercial Director(s).
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