OTIS LIMITED
Company number: 00147366
Reporting period:
1 December 2025 to 31 May 2026
Report filed on:
6 November 2026
Approved by:
Rajpal Singh
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 44 days
Total value paid:
- within 30 days: £11,536,740 (43%)
- in 31 to 60 days: £11,373,912 (42%)
- in 61 days or more: £4,131,160 (15%)
Invoices paid:
- within 30 days: 34%
- in 31 to 60 days: 43%
- in 61 days or more: 23%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £8,769,978
- payments due in the reporting period which have not been paid within the agreed period: 32%
- not made in the reporting period due to a dispute: 100%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
90 days
Standard payment terms
Company operates a range of payment terms with its suppliers, reflecting the nature of the products and services provided, applicable local laws, and prevailing market conditions. Payment terms are mutually agreed with each supplier as part of the commercial arrangement.
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
90 days
Our terms with other suppliers vary on the products and services being provided, prevailing market conditions we operate in and other commercial aspects of suppliers’ relationships.
Any other information about payment terms
No further comment.
Dispute resolution process
We have a dedicated third-party Help Desk support team in place, with defined response criteria for managing and resolving supplier disputes. Where necessary, matters can be escalated to the UK Accounts Payable team for further review and resolution, as well as to the management of the individuals responsible for ordering the relevant goods or services.
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