Company number: 02387700
and approved by Ceri Humphrey
Average time taken to pay invoices: 35 days
Invoices paid:
Invoices due but not paid within agreed terms: 19%
14 days
91 days
VolkerFitzpatrick Limited agree payment terms with suppliers and subcontractors as part of negotiating and agreeing their contracts. Our standard payment terms for materials is 45 days after the end of the month the invoice is dated. Our standard payment terms for plant is 60 days after the end of the month the invoice is dated. Other payment terms will be agreed with our suppliers and subcontractors on an individual basis.
Answer not provided
N/A
91 days
The maximum contractual payment period is 60 days after the end of the month the invoice is dated, so the maximum number of days before an invoice is due for payment is 91 days.
VolkerFitzpatrick Limited is committed to supporting the local community wherever we work and endeavour to engage with Small to Medium Enterprises (SMEs), community sector organisations and a diverse range of enterprises in our supply chain. We ensure our procurement processes are transparent, straightforward, and open and we are committed to paying our SME supply chain promptly in recognition of their specific challenge around cash flow, and encourage our supply chain to adopt supporting practices. VolkerFitzpatrick Limited are signatories of the Prompt Payment Code. Although we made 13% of our payments after 60 days we continue to comply with the Prompt Payment Code as we have negotiated with our larger suppliers payment terms of up to 60 days after the end of the month the invoice is dated. These longer payment terms enable smaller members of our supply chain to benefit from shorter payments terms. In order for invoices to be paid on a timely basis, all invoices must be received by our VolkerWessels UK Accounts Payable team before they are recognised as valid for payment. For guidance on how to get paid please see our website: http://www.volkerwessels.co.uk/en/who-we-are/supply-chain
Our dispute resolution process is clearly explained on our website and is as follows: In the first instance, all disputes will be raised and managed by the site teams. The supplier will be advised that there is a query relating to the goods and/or services supplied and it will be the initial responsibility of the site team to come to a resolution with the supplier. The following steps will be taken to raise and resolve a dispute: 1. The nature of the dispute is discussed between the site team and the supplier. 2. The site team and supplier will come to an agreed time frame for resolution. 3. The supplier is responsible for providing feedback to their accounts team relating to the nature of the dispute and the resolution date. 4. The respective site team will provide feedback to the VolkerWessels UK Accounts Payable team as to the nature and the resolution date of the dispute. 5. Within the agreed resolution timeframe; the VolkerWessels UK Accounts Payable team will await instructions from the site team as to whether or not the dispute has been resolved ahead of schedule and whether or not funds can be released to the supplier. 6. In instances where the stated resolution timeframe has elapsed, the VolkerWessels UK Accounts Payable team will escalate the matter to the appropriate management level to ensure a new resolution date or the release of funds to the supplier.
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: The Prompt Payment Code
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No