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KIER INTEGRATED SERVICES LIMITED

Company number: 00873179

Reporting period:
1 January 2021 to 30 June 2021


Warning This information is as reported by the business, and responses are in their own words.

This report was filed on 30 July 2021

and approved by Lee Woodall

Payment statistics

Average time taken to pay invoices: 40 days

Invoices paid:

Invoices due but not paid within agreed terms: 47 %

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 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