CITYFIBRE LIMITED
Company number: 09759465
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
31 July 2026
Approved by:
Nicholas Dunn
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: £194,357,099 (76%)
- in 31 to 60 days: £55,498,843 (22%)
- in 61 days or more: £5,376,348 (2%)
Invoices paid:
- within 30 days: 50%
- in 31 to 60 days: 48%
- 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: £67,178,674
- payments due in the reporting period which have not been paid within the agreed period: 83%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
30 days
Standard payment terms
CityFibre Limited's standard terms of payment are 30 days from invoice date. CityFibre operates a 3 way purchase to pay process whereby a Purchase Order (PO) is raised to order the work with the supplier and the PO owner internally receipts when the work has been completed.
The supplier sends an invoice with the approved PO number clearly stated to the dedicated inbox of accounts.payable@cityfibre.com which allows for account payable team to match the invoice to the PO so it is passed for payment.
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
30 days
No further comment provided
Any other information about payment terms
CityFibre operates a payment run every Wednesday where all invoices that are due for payment are paid on the following Friday. CityFibre may flex this by a day in the event of a public holiday.
CityFibre has expedited payments in the reporting period for certain suppliers in the supply chain either at the suppliers request or in accordance with their credit policies
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?
No
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
Only applicable where CityFibre has an upstream "Employer"
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Contactor defects are reviewed by Network Build and Quantity Surveyors at the end of a retention period (usually 2 years) and the cost of any unremedied defect and any local authority charges not reimbursed by the Contractor are deducted from the retention before is released.
Is the money released in stages?
Yes:
Usually 50% of the retention after 12 months from Completion of the works with the balance released after a further 12 months.
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
2%
Dispute resolution process
If CityFibre Limited reasonably and in good faith disputes its obligation to pay part or all of an invoice submitted by a supplier, then CityFibre Limited notifies the supplier in writing of the amount of the invoice which it is disputing and the reasons why it considers it is not obliged to pay that amount.
Payment disputes are initially handled by the Accounts Payable team, with support from the person who negotiated or ordered the product/service. If a satisfactory outcome cannot be reached, the issue will be escalated within the organisation to the supply chain director and ultimately the legal team if necessary.
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