MERCEDES-BENZ GRAND PRIX LTD
Company number: 00787446
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
31 July 2026
Approved by:
Toto Wolff
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: 33 days
Total value paid:
- within 30 days: £100,002,131 (39%)
- in 31 to 60 days: £146,641,562 (57%)
- in 61 days or more: £10,697,619 (4%)
Invoices paid:
- within 30 days: 48%
- in 31 to 60 days: 50%
- 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: £157,339,181
- payments due in the reporting period which have not been paid within the agreed period: 11%
- not made in the reporting period due to a dispute: 32%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Mercedes Benz Grand Prix Limited has standard payment terms of 30 days end of month. There may be exceptions, where contractually we have agreed shorter or longer terms and these apply on an individual basis as agreed.
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
N/A
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: 5%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
N/A- Mercedes-Benz Grand Prix Limited is only party to construction contracts with suppliers. It is not party to any construction contracts with customers.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
All construction contracts include a 5% retention. Of this, 2.5% is released upon practical completion of the construction with the remaining 2.5% released 12 months following finalising of the snagging period.
Is the money released in stages?
Yes:
See Above
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
6%
Dispute resolution process
The Company is committed to dealing with its suppliers in a fair, honest and professional manner while seeking best value for the business. We seek to resolve queries as quickly as possible to everyone's satisfaction prior to payment being made. In the event that a dispute cannot be resolved by our Accounts Payable team, it would escalate in the first instance to the relevant Head of Department to seek a resolution.
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