Company number: 02352250
and approved by Russell Lyons
Average time taken to pay invoices: 37 days
Invoices paid:
Invoices due but not paid within agreed terms: 20%
35 days
56 days
The standard payment periods referred below for trade contracts and consultant appointments include the time required for external project monitors to review and report to third party funders and for submissions for draw downs to be requested and approved. The standard payment period in the Company's standard form of trade contract is 35 days. The standard form trade contract is subject to the terms of Housing Grants Construction & Regeneration Act 1996 (as amended). The date when a payment in respect in an interim application becomes due is 30 days after the monthly date specified for receipt of a contractors interim application (or later receipt). The standard payment period in the Company's standard form of consultant appointment is 35 days. The standard form consultant appointment is subject to the terms of the Housing Grants Construction & Regeneration Act 1996 (as amended). The date when a payment in respect of an application for payment becomes due is 15 days after the monthly date specified for receipt of the consultants application for payment (or later receipt). The standard payments period in the company's standard form of purchase order is 35 days from receipt of a valid invoice.
Answer not provided
N/A
56 days
NA
NA
CWCL Cost Managers work closely with contractors and suppliers to seek to agree valuations where a dispute does arrive the Cost Manager will review the position and refer the matter to Director level where appropriate. Whilst every effort is made to resolve payment disputes quickly, in the event a dispute can not be resolved by agreement, the standard form trade contract and consultant appointment both include provision for referral to adjudication pursuant to the Housing Grants Construction & Regeneration Act 1996 (as amended). The parties are subject to the laws England & Wales and the exclusive jurisdiction of the English courts.
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No