GOV.UK
ST. MODWEN DEVELOPMENTS LIMITED
Company number: 00892832
Reporting period:
1 December 2019
to 31 May 2020
This report was filed on 29 June 2020
and approved by Robert Hudson
Payment statistics
Average time taken to pay invoices: 32 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 37%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 34 %
Payment terms
Shortest standard payment period
14 days
Longest standard payment period
45 days
Standard payment terms
St. Modwen Developments Ltd’s standard supplier
payment terms are ’45 days from date of invoice’.
Subcontractor suppliers are paid more quickly, in
line with their contract. Payment of any amount
ascertained in accordance with the Contract under
an Interim Application (if any) to the Contractor shall become due 24 days after the Application Date ("Payment Due Date"). St. Modwen Developments Ltd is committed to supporting SMEs which are therefore paid on shorter terms, between 14 and 30 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
St. Modwen Developments Ltd’s standard supplier
payment terms are ’45 days from date of invoice’.
Subcontractor suppliers are paid more quickly, in
line with their contract. Payment of any amount
ascertained in accordance with the Contract under
an Interim Application (if any) to the Contractor shall become due 24 days after the Application Date ("Payment Due Date"). St. Modwen Developments Ltd is committed to supporting SMEs which are therefore paid on shorter terms, between 14 and 30
days.
Any other information about payment terms
N/A
Dispute resolution process
St. Modwen Developments Ltd is committed to fair
dealing with all of its supply chain members, and
transparency and swift resolution of disputed items
are key principles in this process. If a dispute arises
the parties will attempt, in good faith, to reach
settlement as soon as possible. If the dispute is not
resolved it shall be referred to expert determination.
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