VINCI CONSTRUCTION UK LIMITED

Company number: 02295904

Reporting period:
1 July 2020 to 31 December 2020

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This report was filed on 27 January 2021

and approved by Chris Brennan

Payment statistics

Average time taken to pay invoices: 24 days

Invoices paid:

• within 30 days: 75%
• in 31 to 60 days: 20%
• in 61 days or more: 5%

Invoices due but not paid within agreed terms: 14%

Payment terms

Shortest standard payment periods

3 days

Longest standard payment period

60 days

Standard payment terms

Standard payment terms for subcontract payments are 42 days from application. Outside of this, terms are agreed on a contract by contract basis. Standard payment terms for material and service supplies range from 3 to 60 days.

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

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Disputes with subcontract applications are resolved at site level between commercial resource and the subcontractor within the 28 day assessment period. Disputes with material and services invoices are communicated on a weekly basis to 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.

Yes, this business has signed up to: Prompt Payment Code

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.

Yes

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