BECHTEL MANAGEMENT COMPANY LIMITED
Company number: 04252526
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
30 July 2026
Approved by:
Steve Kay
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: 30 days
Total value paid:
- within 30 days: £9,000,757 (93%)
- in 31 to 60 days: £720,012 (7%)
- in 61 days or more: £0 (0%)
Invoices paid:
- within 30 days: 85%
- in 31 to 60 days: 15%
- in 61 days or more: 0%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £21,326
- 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
Bechtel Management Company Limited's standard payment terms provide for payment within 30 days from the receipt of a proper invoice (i.e. an invoice submitted in accordance with the agreed requirements). However, Bechtel Management Company Limited is flexible in its approach and different payment terms may be negotiated on a case-by-case 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
N/A
Any other information about payment terms
N/A
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Retention may be considered on a project-specific basis where additional commercial or performance assurance is required, for example where the scope includes extended warranty obligations, commissioning and start-up support, post-completion deliverables (such as as-built documentation), or where there are project-specific risk considerations, including subcontractor financial risk. Retention requirements, where applicable, may often be substituted by suitable financial sureties such as performance bank guarantees and/or corporate guarantees from a suitably capitalised parent/affiliate.
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: 5%
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
Where retention applies, release is governed by the subcontract terms and typically occurs once the contractual conditions for release have been satisfied, generally as part of the final invoice and close-out process.
Is the money released in stages?
Yes:
Once the project is final accounted, this is the point the vendor can bill half the retention. 12 months later, the remaining balance is released
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
21%
Amount retained stated as a percentage of the total construction payments made by this business
4%
Dispute resolution process
Bechtel Management Company Limited actively seeks to resolve disputes by engaging in dialogue with the supplier(s) in question. Where we are not able to resolve the dispute by dialogue, our contracts provide for resolution of the dispute through some other method, such as litigation or arbitration.
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