COSTAIN ENGINEERING & CONSTRUCTION LIMITED
Company number: 02440829
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 28 July 2022
and approved by Warren Clements
Payment statistics
Average time taken to pay invoices: 19 days
Invoices paid:
- within 30 days: 85%
- in 31 to 60 days: 13%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 12 %
Payment terms
Shortest standard payment period
21 days
Longest standard payment period
45 days
Standard payment terms
Costain Engineering & Construction Limited is a holding and services company within the Costain Group. The administration of the few suppliers it engages is handled by a fellow subsidiary, Costain Limited. Terms are agreed with suppliers as part of contract negotiations.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
45 days
There were no changes to standard payment terms in the reporting period.
Any other information about payment terms
N/A
Dispute resolution process
Costain Engineering & Construction Limited actively seeks to resolve disputes by discussing them with the relevant supplier(s), generally involving members of the accounts or accounts payable team; where necessary, members of management will be involved
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.No
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.
No
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