VOLKERLASER LTD
Company number: 03892871
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
30 July 2026
Approved by:
James Buckels
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: 38 days
Total value paid:
- within 30 days: £13,508,178 (56%)
- in 31 to 60 days: £8,942,689 (37%)
- in 61 days or more: £1,479,304 (6%)
Invoices paid:
- within 30 days: 45%
- in 31 to 60 days: 44%
- in 61 days or more: 11%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £10,747,983
- payments due in the reporting period which have not been paid within the agreed period: 57%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
60 days
Standard payment terms
VolkerLaser Limited agree payment terms with suppliers and subcontractors as part of negotiating and agreeing their contracts.
Our standard payment terms for suppliers and subcontractors with less than 50 employees is 30 days after the date of invoice.
For other materials and plant suppliers our standard payment terms are 60 days after the date of invoice.
Other payment terms will be agreed with our suppliers and subcontractors on an individual basis.
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
The maximum contractual payment period is 60 days after the date of invoice.
Any other information about payment terms
VolkerLaser Limited is committed to supporting the local community wherever we work and endeavour to engage with Small to Medium Enterprises (SMEs), community sector organisations and a diverse range of enterprises in our supply chain. We ensure our procurement processes are transparent, straightforward, and open and we are committed to paying our SME supply chain promptly in recognition of their specific challenge around cash flow, and encourage our supply chain to adopt supporting practices.
In order for invoices to be paid on a timely basis, all invoices must be received by our VolkerWessels UK Accounts Payable team before they are recognised as valid for payment.
For guidance on how to get paid please see our website:
http://www.volkerwessels.co.uk/en/who-we-are/supply-chain
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
We may withhold retentions from payments to subcontractors when retention clauses are applied by our clients and will be applied depending on the type, size and risk profile associated with the subcontract works.
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:
For projects where our clients deduct retentions from payments, we aim to use consistent retention clauses with our supply chain
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Following practical completion, a subcontractor may apply for the release of 50% of the retention. At the end of the defects period and once any defects have been rectified, a subcontractor may then apply for the release of the retention balance.
Is the money released in stages?
Yes:
50% is released on practical completion of the works with the remaining 50% being released at the end of the 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
11%
Amount retained stated as a percentage of the total construction payments made by this business
0%
Dispute resolution process
Our dispute resolution process is clearly explained on our website and is as follows:
In the first instance, all disputes will be raised and managed by the site teams. The supplier will be advised that there is a query relating to the goods and/or services supplied and it will be the initial responsibility of the site team to come to a resolution with the supplier. The following steps will be taken to raise and resolve a dispute:
1. The nature of the dispute is discussed between the site team and the supplier.
2. The site team and supplier will come to an agreed time frame for resolution.
3. The supplier is responsible for providing feedback to their accounts team relating to the nature of the dispute and the resolution date.
4. The respective site team will provide feedback to the VolkerWessels UK Accounts Payable team as to the nature and the resolution date of the dispute.
5. Within the agreed resolution timeframe; the VolkerWessels UK Accounts Payable team will await instructions from the site team as to whether or not the dispute has been resolved ahead of schedule and whether or not funds can be released to the supplier.
6. In instances where the stated resolution timeframe has elapsed, the VolkerWessels UK Accounts Payable team will escalate the matter to the appropriate management level to ensure a new resolution date or the release of funds to the supplier.
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