GOV.UK
KIER HIGHWAYS LIMITED
Company number: 05606089
Reporting period:
1 January 2022
to 30 June 2022
This report was filed on 29 July 2022
and approved by James Smith
Payment statistics
Average time taken to pay invoices: 36 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 46%
- in 61 days or more: 5%
Invoices due but not paid within agreed terms: 7 %
Payment terms
Standard payment period for qualifying contracts
14 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 14 days from
invoice received date (IRD) to 60 days from
IRD; the most common payment term is 60 days
from IRD.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
Kier Highways Limited is a proud signatory of
the Prompt Payment Code and committed to
meeting the targets and guidance provided as
part of this Code. Kier Highways Limited has
invested significant resource in governance,
systems and process improvements to improve
payment to terms of its valued supply chain
partners.
Per guidance from the Prompt Payment Code,
Kier Highways Limited is committed to payment
of all compliant invoices provided by suppliers
deemed small companies (having less than 50
employees) within 30 days; these also form part
of Kier Highways Limited commitments to the
frameworks and contracts entered into where
standard payment terms are 30 days or less.
Changes have been made to core systems to
identify companies within this category for Code
reporting purposes while management focus
continues on improving payment experiences
for all suppliers.
Dispute resolution process
Kier Highways 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 Highways 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.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