M & J EVANS CONSTRUCTION LIMITED
Company number: 04766812
Reporting period:
1 June 2018 to 30 November 2018
Report filed on:
24 June 2019
Approved by:
Simon Loveland
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 13%
- in 31 to 60 days: 75%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 10%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
75 days
Standard payment terms
Suppliers:
M&J Evans Construction Limited’s standard payment terms are 31 to 37 days from end of month of invoice, dependent on the first Friday of the month following the month after invoice.
Invoices must be received by the 10th day following month of invoice to be paid within standard terms. Invoices not received by this date will be processed and paid on terms based on the month the invoice was received. The purchase ledger team request monthly statements from all active suppliers, in order to minimise delayed payment.
Subcontractors:
M&J Evans Construction Limited standard payment terms for subcontractors range between 7 to 60 days. Payment terms vary as negotiated between subcontractor and the Commercial team.
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
75 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Disputes are resolved by negotiation with the supplier, this may include the purchase ledger, buying and commercial teams. M&J Evans Construction Limited endeavor to settle all disputes fairly and in a timely manner.
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