KIER INTEGRATED SERVICES LIMITED
Company number: 00873179
1 January 2018
to 30 June 2018
This report was filed on 30 July 2018
and approved by Marcus Jones
Average time taken to pay invoices: 76 days
- within 30 days: 13%
- in 31 to 60 days: 29%
- in 61 days or more: 58%
Invoices due but not paid within agreed terms: 53 %
Standard payment period for qualifying contracts
Standard payment terms
Kier Integrated Services 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.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
The maximum contractual payment period related to those suppliers that agreed to supply chain finance. Although this was 60 days, all of the suppliers that requested payment under the facility received payment 21 days following Kier Integrated Services Limited’s receipt of the supplier’s application for payment or invoice.
Any other information about payment terms
Dispute resolution process
Kier Integrated Services 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 and / or where necessary members of management. 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.
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?