GOV.UK
LENDLEASE CONSTRUCTION (EUROPE) LIMITED
Company number: 00467006
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 26 July 2018
and approved by Claire Pettett
Payment statistics
Average time taken to pay invoices: 35 days
Invoices paid:
- within 30 days: 52%
- in 31 to 60 days: 39%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 31 %
Payment terms
Shortest standard payment period
30 days
Longest standard payment period
60 days
Standard payment terms
The Company’s standard payment terms for non-construction contract related payments is 30 days. For construction contracts the payment terms are largely dependent on the specific requirements of individual projects.
When calculating the number of days to make payment, the Company has added 7 days to its statistics to reflect:
• the general range of 7-10 days between the application date and due date for those contracts governed by the Housing Grant, Construction and Regeneration Act 1996.
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
The Company operates on standard payment terms of 30 days for non-construction related contracts, unless the Company agrees to different terms requested by a supplier.
Dispute resolution process
All queries regarding non-payment of invoices should be discussed with the Lendlease contact as specified on the Lendlease Purchase Order. Escalation can be managed through the Lendlease Customer Service team. Further escalation will be managed internally when required.
For any qualifying subcontracts, any dispute or difference between the parties are subject to the laws of England and Wales and the jurisdiction of the English courts. Payment under construction contracts is subject to statutory adjudication pursuant to the Housing Grant, Construction and Regeneration Act 1996. Only a very small proportion of our payments become the subject to the adjudication and/or court proceedings.
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