VISTRY HOMES LIMITED
Company number: 00397634
1 July 2021
to 31 December 2021
This report was filed on 28 January 2022
and approved by Clare Bates
Average time taken to pay invoices: 44 days
- within 30 days: 27%
- in 31 to 60 days: 58%
- in 61 days or more: 15%
Invoices due but not paid within agreed terms: 35 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Our standard payment terms for Suppliers, payment is by the 3rd working day of the second month following the receipt of invoice.
Our standard payment terms for subcontractors – Subcontractors are required to make applications for payment by the 7th day of the month and payment is made within 45 days thereafter.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Vistry Homes Ltd. would endeavour to resolve queries and disputes in a fair and timely manner which satisfies all parties and maintains a good customer, supplier relationship. Queries are dealt with on site or by the purchasing department in the first instance. If an agreement cannot be made it would then be escalated to the Management/Finance team for further investigation.
Disputes which cannot be resolved are referred to adjudication to be determined under the Scheme for Construction Act Regulations 1996. If the dispute cannot be resolved in accordance with normal procedures and whether there has been adjudication or otherwise the dispute will be determined by litigation in the courts of England, adopting English law.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?