MULTIPLEX CONSTRUCTION EUROPE LIMITED

Company number: 03808946

Reporting period:
1 January 2018 to 30 June 2018

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This report was filed on 26 July 2018

and approved by Paul Maguire

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

• within 30 days: 45%
• in 31 to 60 days: 41%
• in 61 days or more: 14%

Invoices due but not paid within agreed terms: 47%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

35 days

Standard payment terms

The Company payment terms can vary by contract, however the standard payment terms are 35 days from application date for sub-contractors and 30 days end of month from invoice date for supplier payments. To determine the number of days taken to make payment, the Company has added a period of 3 days to the invoice date to account for the delivery of documents.

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

42 days

A small number of contracts novated to the Company have a maximum payment period of 42 days

Any other information about payment terms

N/A

Dispute resolution process

The method of dispute resolution will depend on the nature of the query. For sub-contractor valuations the dispute will be dealt with exclusively by the relevant project who will negotiate with the sub-contractor until such time that the dispute is resolved and payment can be made. In the interests of good sub-contractor relations these disputes resolutions are treated as a priority. Missing documents or information, such as the latest insurance certificates, can also lead to a payment to sub-contractors being held. In these cases the Accounts Payable team are often involved in informing the relevant project which usually results in no delay to the payment. With suppliers the resolution will also be led by the project who have instigated the dispute, but Accounts Payable will also be involved if they are contacted by the supplier’s credit control department. The Accounts Payable team’s role is to expedite the resolution, acting as the liaison between the project and the supplier.

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, this business has not signed up to a code of conduct or standards on payment practices.

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