MCNICHOLAS CONSTRUCTION SERVICES LIMITED
Company number: 01510892
Reporting period:
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by Graham Denton
Payment statistics
Average time taken to pay invoices: 76 days
Invoices paid:
- within 30 days: 4%
- in 31 to 60 days: 22%
- in 61 days or more: 74%
Invoices due but not paid within agreed terms: 95 %
Payment terms
Standard payment period for qualifying contracts
7 days
Standard payment terms
McNicholas Construction Limited does not have standard payment terms. Payment terms are agreed with suppliers as part of contract negotiations. The most frequently used payment terms in the reporting period are 60 days after the end of the month following delivery which is an average of 75 days.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
Any other information about payment terms
N/A
Dispute resolution process
McNicholas Construction Limited actively seeks to resolve disputes by discussing them with the relevant supplier(s), typically involving members of the accounts payable and credit control departments and /or the procurement and commercial teams. However, where it is not possible to reach agreement, a number of potential dispute resolution methods (for example, mediation, adjudication, expert determination, litigation and / or arbitration) may be used.
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.
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