VINCI CONSTRUCTION UK LIMITED
Company number: 02295904
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
30 July 2026
Approved by:
Xavier Lansade
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: 31 days
Total value paid:
- within 30 days: £263,959,485 (91%)
- in 31 to 60 days: £18,277,892 (6%)
- in 61 days or more: £9,283,762 (3%)
Invoices paid:
- within 30 days: 63%
- in 31 to 60 days: 24%
- in 61 days or more: 13%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £168,298,071
- payments due in the reporting period which have not been paid within the agreed period: 55%
- not made in the reporting period due to a dispute: 6%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
60 days
Standard payment terms
7 days applies to Subcontractors and SME's
60 days applied on a mutually agreed 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
No further comment provided
Any other information about payment terms
The implementation of a new ERP system in January 2026 has adversely impacted the payment practice reporting in the period due to downtime during the first two months whilst data was being migrated, as well as the business adapting to new procedures around the purchase to pay process. We expect to return to our usual level of reporting statistics during the 2nd half of 2026 with the aim of reaching 95% of invoices paid within 60 days.
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Retentions on construction contracts are only required in a minority of occasions where retention clauses are applied by the client.
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:
Retention clause applied to clients mirrors retention clause on our suppliers.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Retentions are released at milestones agreed at the outset of the subcontract.
Is the money released in stages?
Yes:
The agreed milestones are related to the subcontractor’s completion and defects periods.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
118%
Amount retained stated as a percentage of the total construction payments made by this business
1%
Dispute resolution process
The Company has a 3 tier resolution process to resolve any disputes and invoice queries with its supply chain on a timely basis. The first tier involves Divisional and Operational staff who should be contacted in the first instance. The 2nd tier would involve the respective category manager and finally if disputes/queries still can't be resolved it can be escalated to the Supply Chain Executive. To help resolve disputes and queries the Company may request further information. This is the principal area of delayed payment over agreed terms. As part of our drive towards increasing the level of e-invoicing we encourage our supply chain to transmit their invoices via our dedicated electronic EDI / Web portal. Vendors submitting invoices via these methods can track receipt of their invoice and view other status information which will further improve communication between all parties in the event of a dispute.
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