STANMORE CONTRACTORS LIMITED
Company number: 02754550
1 October 2018
to 31 March 2019
This report was filed on 8 October 2019
and approved by TANYA BARRETT
Average time taken to pay invoices: 23 days
- within 30 days: 78%
- in 31 to 60 days: 22%
- in 61 days or more: 0%
Invoices due but not paid within agreed terms: 10 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Stanmore Contractors Limited does not have a standard payment term. Payment terms are agreed with suppliers at contract negotiation. The most frequently used payment terms in the reporting period are 30 days. We aim to pay subcontractors within 14 days
from receipt of invoices.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
We have implemented systems and procedures to ensure prompt payment to suppliers.
Dispute resolution process
Stanmore Contractors aim to resolve any dispute with the relevant supplier or subcontractor within a timely manner, this usually involves communicating with members of the procurement, finance, commercial, construction, and management team.
Where a resolution cannot be reached, a dispute resolution method may be used.
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?