ST. MODWEN HOMES LIMITED
Company number: 09095920
Reporting period:
1 June 2020 to 30 November 2020
Report filed on:
22 December 2020
Approved by:
Robert Hudson
Payment statistics
Average time taken to pay invoices: 48 days
Invoices paid:
- within 30 days: 44%
- in 31 to 60 days: 35%
- in 61 days or more: 21%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 49%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
45 days
Standard payment terms
"St. Modwen Homes Ltd's standard supplier payment terms are ’30 days from date of invoice’.
Subcontractor suppliers are paid 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 Homes Ltd is committed to
supporting SMEs which are therefore paid on shorter terms."
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
"St. Modwen Homes Ltd's standard supplier payment terms are ’30 days from date of invoice’.
Subcontractor suppliers are paid 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 Homes Ltd is committed to
supporting SMEs which are therefore paid on shorter terms."
Any other information about payment terms
No further comment provided
Dispute resolution process
"St. Modwen Homes 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 Fair 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