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LAING O'ROURKE DELIVERY LIMITED

Company number: 04309402

Reporting period:
1 October 2021 to 31 March 2022

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

This report was filed on 3 May 2022

and approved by Rowan Baker

Payment statistics

Average time taken to pay invoices: 32 days

Invoices paid:

• within 30 days: 62%
• in 31 to 60 days: 26%
• in 61 days or more: 12%

Invoices due but not paid within agreed terms: 22 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

91 days

Standard payment terms

Payment terms are agreed with subcontractors and suppliers as part of contract negotiations and to comply with any statutory and client contractual requirements. Terms agreed range from 7 Days to 60 Days from month end of invoice.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

91 days

The maximum contractual payment period is 60 Days from month end of invoice.

Any other information about payment terms

Laing O’Rourke Delivery Limited is a proud signatory of the Prompt Payment Code and remains committed to meeting the targets and guidance provided as part of this Code. Laing O’Rourke Delivery Limited continues to invest significant resource in our governance, systems and processes to improve payment to terms of its valued supply chain partners.
In accordance with the Prompt Payment Code, Laing O’Rourke Delivery Ltd is committed to payment of all compliant invoices provided by suppliers deemed to be small companies (defined as those having fewer than 50 employees) within 30 days. System enhancements have been made to identify companies within this category while management focus continues on improving payment experiences for all supply chain members.

Dispute resolution process

Laing O’Rourke Delivery Limited is committed to fair treatment of all its supply chain partners and promotes transparency and swift resolution of any dispute.
For both supplier and subcontractor disputes the process will involve the Accounts Payable Department and may involve members of Procurement, Office Management and Commercial and where necessary other Senior Management. Subcontractor disputes will initially be addressed by the Project Commercial team.
Following escalation to Senior Management, on rare occasions where it is not possible to reach an agreement suitable to both parties, other methods of dispute resolution may include but are not limited to mediation, adjudication, expert determination and/or arbitration.

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 – The 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