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L&Q NEW HOMES LIMITED

Company number: 04828168

Reporting period:
1 April 2019 to 30 September 2019


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

This report was filed on 30 October 2019

and approved by Edward Farnsworth

Payment statistics

Average time taken to pay invoices: 52 days

Invoices paid:

Invoices due but not paid within agreed terms: 93 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

60 days

Standard payment terms

L&Q New Homes Limited’s standard payment terms is to make payment within 30 days from receipt of a valid invoice. Subcontractor suppliers are paid in line with their contract, which may be more quickly.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

L&Q New Homes Limited aims to resolve all disputes promptly. This will normally be by contacting the supplier and resolving any issues.

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