GOV.UK
MCCARTHY & STONE RETIREMENT LIFESTYLES LIMITED
Company number: 06622231
Reporting period:
1 September 2018
to 28 February 2019
This report was filed on 29 March 2019
and approved by Rowan Baker
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 77%
- in 31 to 60 days: 16%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 18 %
Payment terms
Shortest standard payment period
7 days
Longest standard payment period
60 days
Standard payment terms
McCarthy & Stone’s standard purchase order payment terms for suppliers requires payment to be made within 30 days of the end of the month in which a correctly rendered invoice is received. McCarthy & Stone’s standard construction contract payment terms for subcontractors is within 30 days following the submission of the subcontractor’s valid application for payment.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Maximum contractual payment period is 60 days end of month.
Any other information about payment terms
N/A
Dispute resolution process
Framework Agreements
If a dispute arises out of or in connection with this framework agreement or the performance, validity or enforceability of it (a “Dispute”) then the parties shall follow the procedure set out in this clause:
either party shall give to the other written notice of the Dispute, setting out its nature and full particulars (Dispute Notice), together with relevant supporting documents. On service of the Dispute Notice, the Tier 1 escalation parties shall attempt in good faith to resolve the Dispute;
if the Tier 1 escalation parties are for any reason unable to resolve the Dispute within 30 days of service of the Dispute Notice, the Dispute shall be referred to the Tier 2 escalation parties who shall attempt in good faith to resolve it; and
if the Tier 2 escalation parties are for any reason unable to resolve the Dispute within 30 days of it being referred to them, the parties will attempt to settle it by mediation in accordance with the CEDR Model Mediation Procedure. Unless otherwise agreed between the parties, the mediator shall be nominated by CEDR Solve. To initiate the mediation, a party must serve notice in writing (ADR notice) to the other party to the Dispute, requesting a mediation. A copy of the ADR notice should be sent to CEDR Solve. The mediation will start not later than 10 days after the date of the ADR notice.
Tier 1 and 2 escalation parties would be confirmed on an individual basis with the National Framework Agreement, typically Tier 1 would be the Category Manager and Tier 2 would be the Head of Direct Procurement or the Group Product & Development Director.
The commencement of mediation shall not prevent the parties commencing or continuing court or arbitration proceedings in relation to a dispute at any time.
Non-Framework Agreements
If a dispute arises out of or in connection with any McCarthy & Stone standard agreement, the process contained within the relevant version of McCarthy & Stone standard agreement should be followed. Where a dispute arises between the Supplier and McCarthy & Stone and such dispute is not covered by a McCarthy & Stone standard agreement, or other contracted provisions agreed between the parties, this clause shall apply. In cases where the agreed specification or an agreed supplier route has not been followed, the process contained within the most recent version of the standard subcontract agreement should be followed. Any other types of query or dispute should be raised with the relevant surveyor in the first instance, who will attempt, in good faith, to reach settlement within a period of 28 days. If not resolved to both parties satisfaction within this period, disputes shall be escalated to the appointed senior surveyor of McCarthy & Stone who will attempt, in good faith, to reach settlement within a further period of 14 days and if the matter is then not resolved to both parties satisfaction by the expiry of this period, the dispute shall be escalated to McCarthy & Stone appointed commercial director who will attempt, in good faith, to reach settlement within a further period of 14 days. This dispute resolution procedure must be followed prior to commencing any adjudication or legal proceedings. If the dispute cannot be resolved in accordance with the preceding mechanism, either of the parties may refer the dispute to adjudication or determination by the courts of England, adopting the law of England and Wales.
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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.No
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