THALES UK LIMITED
Company number: 00868273
Reporting period:
1 January 2026 to 26 June 2026
Report filed on:
31 July 2026
Approved by:
Thierry Gentgen
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: £287,752,998 (58%)
- in 31 to 60 days: £165,144,423 (33%)
- in 61 days or more: £45,820,903 (9%)
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 14%
- in 61 days or more: 5%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £114,291,795
- payments due in the reporting period which have not been paid within the agreed period: 12%
- not made in the reporting period due to a dispute: 4%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
From 1st July 2025 standard payment terms changed to Net 30
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
We moved our invoice scanning solution from Readsoft to Basware on 1st May 2026 as you will see from the metrics above average time to pay has increased slightly – this is due to teething troubles the teams learn new ways of working and the tool embeds.
The Supplier shall submit invoices to the address stated on the Order after Delivery of the Goods or the performance of the Services.
Every invoice shall include the following information:
• Order number and the Order item number;
• Goods and/or Services to which it relates;
• Supplier’s VAT number;
• Supplier’s bank account number,
• Sort code and invoice address;
• Invoice number; date of the invoice;
• Name of the relevant Thales company and its full address;
• Delivery Address;
• Price and the total amount due;
• and any other information reasonably required by Thales.
Thales may reject any invoice that does not include the information set out above.
No payments shall be made until and unless the Goods and/or Services have been accepted.
Thales shall be entitled to set off against the Price any sums that are owed to Thales by the Supplier.
If Thales does not make a payment against a correctly submitted invoice within the period stated in standard payment terms, the Supplier may charge interest on such late payment at a rate no greater than 4% per annum above the Bank of England’s base rate calculated on a daily basis commencing 14 days from the date on which payment was due provide that the Supplier has given 14 days written notice to Thales that such payment is overdue.
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Assuming a “qualifying construction contract” is anything over £150k and using a JCT (Joint Contracts Tribunal) Contract
Does this business only use retention clauses in construction contracts above a specific contract sum?
Yes: £150,000
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
The retention clause is timebound and based on deliveries on the contract. The quantity surveyor / contract administrator would confirm to the project manager to release the funds for the invoice to be paid.
Is the money released in stages?
No
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
0%
Dispute resolution process
Thales UK will endeavour to advise suppliers promptly of any disputes or reasons why an invoice will not be paid to the agreed terms. Invoices that are subject to dispute will not be paid until resolution of the dispute. Once resolved, payment will be made in accordance with the terms of the contract, this document and the UK Prompt Payment Code.
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