GOV.UK
KIER FLEET SERVICES LIMITED
Company number: 02127113
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 29 July 2022
and approved by Robert Hakeman
Payment statistics
Average time taken to pay invoices: 39 days
Invoices paid:
- within 30 days: 53%
- in 31 to 60 days: 38%
- in 61 days or more: 9%
Invoices due but not paid within agreed terms: 50 %
Payment terms
Standard payment period for qualifying contracts
7 days
Standard payment terms
Payment terms are agreed with suppliers and
subcontractors as part of contract negotiations
and aligned with relevant codes to ensure
compliance. Terms vary from 7 days from
invoice received date (IRD) to 60 days from
IRD; the most common payment term is 30 days
from IRD.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Maximum payment terms apply to only a very
small percentage of supply chain partners
where those terms have been negotiated and to
align with the broader working capital cycles in
that particular work sector.
Any other information about payment terms
N/A
Dispute resolution process
Kier Fleet Services is a strong advocate of fair
treatment for all supply chain partners and
constantly strives to improve transparency,
increase certainty of payment and in reduce
time to pay. We are working hard to simplify
internal processes and approvals, towards
minimising time to pay for our supply chain
partners; we are also working with those supply
chain partners to inform and upskill where
required towards right first time invoicing to
avoid payment delays.
Where they happen, Kier Fleet Services actively
seeks to resolve disputes as quickly as possible,
through close interaction with suppliers; in the interests of fair treatment for all supply chain
partners, dispute resolution is treated as a
priority. Typically, these issues can be resolved
through coordination between our payables
teams and supplier credit control teams within
an agreed process for dealing with disputes
which is communicated to suppliers, and where
necessary procurement and commercial teams
are engaged to support the earliest commercial
resolution; where resolution is still unable to be
achieved, senior management will be engaged
towards the swiftest possible conclusion. Where
agreement cannot be reached to the mutual
satisfaction of both parties other dispute
resolution channels will be deployed, such as
mediation, arbitration and expert determination.
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