MACE CONSTRUCT LIMITED
Company number: 09887082
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
30 July 2026
Approved by:
Iain Wilson
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: £244,104,072 (78%)
- in 31 to 60 days: £45,956,149 (15%)
- in 61 days or more: £23,421,723 (7%)
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 9%
- in 61 days or more: 9%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £60,505,244
- payments due in the reporting period which have not been paid within the agreed period: 16%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
30 days
Standard payment terms
30 days are our most frequently used terms, although we have agreed longer terms with some of our suppliers. Some suppliers insist on payment on receipt of invoice and these are processed on the next available payment run.
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
No further comment provided
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Mace uses retention clauses in certain construction contracts to provide assurance that defects and outstanding works will be remedied in accordance with contractual requirements. Retentions are deducted and subsequently released at agreed contractual milestones, typically following completion of the works and the expiry of the defect liability period.
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 clauses are typically used in the majority of our qualifying construction contracts and are generally aligned with those applied to Mace by its clients. However, Mace does not operate a formal policy requiring retention provisions in supplier contracts to be no more onerous than those applying to the business. Instead, retention terms are determined based on the specific circumstances, risk profile, and contractual requirements of each project.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Retention is released through a standard application and certification process.
Is the money released in stages?
Yes:
The most frequent process involves the release of 50% upon practical completion of the subcontract works, with the remaining balance released on the later of either the agreed contractual retention release date or following certificate of 'Making Good'.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
80%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
Our dispute resolution process is published on our website here: https://www.macegroup.com/corporate/supply-chain/
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