Company number: 06622231
and approved by Martin Abell
Average time taken to pay invoices: 28 days
Invoices paid:
Invoices due but not paid within agreed terms: 14%
7 days
60 days
McCarthy & Stone’s standard purchase order payment terms for suppliers requires payment to be made within 30 days of the end of the month in which a correctly rendered invoice is received. McCarthy & Stone’s standard construction contract payment terms for subcontractors is within 30 days following the submission of the subcontractor’s valid application for payment.
Answer not provided
N/A
60 days
N/A
N/A
Framework Agreements If a dispute arises out of or in connection with this framework agreement or the performance, validity or enforceability of it (a “Dispute”) then the parties shall follow the procedure set out in this clause: either party shall give to the other written notice of the Dispute, setting out its nature and full particulars (Dispute Notice), together with relevant supporting documents. On service of the Dispute Notice, the Tier 1 escalation parties shall attempt in good faith to resolve the Dispute; if the Tier 1 escalation parties are for any reason unable to resolve the Dispute within 30 days of service of the Dispute Notice, the Dispute shall be referred to the Tier 2 escalation parties who shall attempt in good faith to resolve it; and if the Tier 2 escalation parties are for any reason unable to resolve the Dispute within 30 days of it being referred to them, the parties will attempt to settle it by mediation in accordance with the CEDR Model Mediation Procedure. Unless otherwise agreed between the parties, the mediator shall be nominated by CEDR Solve. To initiate the mediation, a party must serve notice in writing (ADR notice) to the other party to the Dispute, requesting a mediation. A copy of the ADR notice should be sent to CEDR Solve. The mediation will start not later than 10 days after the date of the ADR notice. Tier 1 and 2 escalation parties would be confirmed on an individual basis with the National Framework Agreement, typically Tier 1 would be the Category Manager and Tier 2 would be the Head of Direct Procurement or the Group Product & Development Director. The commencement of mediation shall not prevent the parties commencing or continuing court or arbitration proceedings in relation to a dispute at any time. Non-Framework Agreements If a dispute arises out of or in connection with any McCarthy & Stone standard agreement, the process contained within the relevant version of McCarthy & Stone standard agreement should be followed. Where a dispute arises between the Supplier and McCarthy & Stone and such dispute is not covered by a McCarthy & Stone standard agreement, or other contracted provisions agreed between the parties, this clause shall apply. In cases where the agreed specification or an agreed supplier route has not been followed, the process contained within the most recent version of the standard subcontract agreement should be followed. Any other types of query or dispute should be raised with the relevant surveyor in the first instance, who will attempt, in good faith, to reach settlement within a period of 28 days. If not resolved to both parties satisfaction within this period, disputes shall be escalated to the appointed senior surveyor of McCarthy & Stone who will attempt, in good faith, to reach settlement within a further period of 14 days and if the matter is then not resolved to both parties satisfaction by the expiry of this period, the dispute shall be escalated to McCarthy & Stone appointed commercial director who will attempt, in good faith, to reach settlement within a further period of 14 days. This dispute resolution procedure must be followed prior to commencing any adjudication or legal proceedings. If the dispute cannot be resolved in accordance with the preceding mechanism, either of the parties may refer the dispute to adjudication or determination by the courts of England, adopting the law of England and Wales.
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.
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No