GOV.UK
KIER INTEGRATED SERVICES LIMITED
Company number: 00873179
Reporting period:
1 July 2020
to 31 December 2020
This report was filed on 29 January 2021
and approved by Lee Woodall
Payment statistics
Average time taken to pay invoices: 38 days
Invoices paid:
- within 30 days: 39%
- in 31 to 60 days: 55%
- in 61 days or more: 6%
Invoices due but not paid within agreed terms: 31 %
Payment terms
Standard payment period for qualifying contracts
7 days
Standard payment terms
Payment terms are agreed with suppliers and
subcontractors as part of contract negotiations
and aligned with relevant codes to ensure
compliance. Terms vary from 7 days from
invoice date to 60 days from invoice date; The
most common payment term is 60 days from
invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
The maximum contractual payment period for
suppliers not signed up to supply chain finance
is 60 days.
We continue to provide the Kier Early Payment
Scheme (‘KEPS’), which enables
subcontractors to receive payments within 21
days of month end valuation date.
Where suppliers do sign up to supply chain
finance then the contractual terms are increased
to 95 days.
This is a popular scheme with our supply chain,
providing earlier liquidity than would otherwise
be available.
Any other information about payment terms
N/A
Dispute resolution process
Kier Integrated Services is a strong advocate of
fair treatment for all supply chain partners and
constantly strives to improve transparency,
increase certainty of payment and in reduce
time to pay. We are working hard to simplify internal processes and approvals, towards
minimising time to pay for our supply chain
partners; we are also working with those supply
chain partners to inform and upskill where
required towards right first time invoicing to
avoid payment delays.
Where they happen, Kier Integrated Services
actively seeks to resolve disputes as quickly as
possible, through close interaction with
suppliers; in the interests of fair treatment for all
supply chain partners, dispute resolution is
treated as a priority. Typically, these issues can
be resolved through coordination between our
payables teams and supplier credit control
teams within an agreed process for dealing with
disputes which is communicated to suppliers,
and where necessary procurement and
commercial teams are engaged to support the
earliest commercial resolution; where resolution
is still unable to be achieved, senior
management will be engaged towards the
swiftest possible conclusion. Where agreement
cannot be reached to the mutual satisfaction of
both parties, other dispute resolution channels
will be deployed, such as mediation, arbitration
and 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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.Yes – 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.
Yes
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