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Company number: 01043597

Reporting period:
1 November 2017 to 27 April 2018

Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 30 May 2018

and approved by Giles Sharp

Payment statistics

Average time taken to pay invoices: 31 days

Invoices paid:

Invoices due but not paid within agreed terms: 17 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

The majority of subcontractors are paid on agreed terms of one month in arrears for the valuation of work performed. The valuation stipulated in the subcontractor’s ‘request for payment’ is subject to approval from an Avant on-site surveyor each month.

In general terms, purchase ledger payment terms adopted by the Avant Homes Group are for invoices to be settled on the next payment run following the credit terms requested by the respective supplier. These terms range from immediate payment, to payment falling due at the end of the month following the invoice date. Consequently, when the invoice is approved by the appropriate delegated authority, it is allocated for payment accordingly.

Were there any changes to the standard payment terms in the reporting period?

Yes – The Avant Homes Group amended its supplier terms and conditions to update its standard payment terms to 60 days.

Were suppliers notified or consulted about these changes before they were made?

Yes – Large existing suppliers were asked to accept the new terms and confirm acceptance back in writing. To date no supplier has been forced to adopt the new extended terms. However, the new payment terms apply to new suppliers.

Maximum contractual payment period agreed

60 days

Any other information about payment terms


Dispute resolution process

At Avant, we strive to resolve queries and disputes on a timely basis. In respect of subcontractors, our dispute resolution process involves a collaborative review of progress on site between Avant surveyor and subcontractor, inclusive of Avant quality check, with reference to the application made. In the majority of circumstances, our commercial staff will resolve a dispute directly with the subcontractor.

In respect of suppliers, goods received are inspected and receipted on site with any issues arising communicated to the supplier via telephone or email.

In the rare event that a dispute cannot be resolved by commercial staff the matter will be referred to our in-house legal counsel.

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.


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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?