MORGAN SINDALL CONSTRUCTION & INFRASTRUCTURE LTD
Company number: 04273754
Reporting period:
1 July 2019 to
31 December 2019
This report was filed on 9 January 2020
and approved by Joe Ledwidge
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 48%
- in 31 to 60 days: 49%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 12%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Morgan Sindall operates shorter payment terms in certain circumstances, including where we have specific payment commitments on frameworks with key customers e.g. 30 days. This is reflected in our average days to pay, when compared to our standard payment terms of 60 days for purchase ledger suppliers, and 49 days (from valuation date) for subcontractors.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
The maximum contractual payment period was 60 days.
Any other information about payment terms
Morgan Sindall is aiming to pay all of it suppliers within 60 days as demonstrated by the change in standard terms in the previous reporting period, which has led to 97% of invoices now being paid within 60 days. However, it will remain a challenge to continue to improve on our paid to terms performance. This is due to the shorter turnaround times available to deal with and resolve invoice queries and to secure credit notes which relate to over billing. Morgan Sindall is keen to continue to collaborate with its supply chain partners to make its overall payment process as efficient as possible.
Dispute resolution process
Invoice queries should be addressed to the buyer who placed the individual order as the first point of contact, and the contact details are clearly stated on the Purchase order. In the event that this should not yield a solution please request the issue to be escalated to the Director of Procurement.
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.
Yes, this business has signed up to: Prompt Payment Code
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.
Yes
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