ST. MODWEN HOMES LIMITED
Company number: 09095920
Reporting period:
1 July 2022 to 31 December 2022
Report filed on:
24 January 2023
Approved by:
Rachel Kentleton
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 62%
- in 31 to 60 days: 28%
- in 61 days or more: 10%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 29%
Payment terms
Shortest standard payment periods
14 days
Longest standard payment period
45 days
Standard payment terms
St. Modwen Homes Ltd's standard supplier
payment terms are ’30 days from date of
invoice’. Subcontractor suppliers are paid in
line with their contract. Payment of any
amount ascertained in accordance with the
Contract under an Interim Application (if any)
to the Contractor shall become due 24 days
after the Application Date ("Payment Due
Date"). St. Modwen Homes Ltd is committed to
supporting SMEs which are therefore paid on
shorter terms.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
No further comment provided
Any other information about payment terms
St. Modwen Homes Ltd's standard supplier
payment terms are ’30 days from date of
invoice’. Subcontractor suppliers are paid in
line with their contract. Payment of any
amount ascertained in accordance with the
Contract under an Interim Application (if any)
to the Contractor shall become due 24 days
after the Application Date ("Payment Due
Date"). St. Modwen Homes Ltd is committed to
supporting SMEs which are therefore paid on
shorter terms.
Dispute resolution process
St. Modwen Homes Ltd is committed to fair
dealing with all of its supply chain members,
and transparency and swift resolution of
disputed items are key principles in this
process. If a dispute arises the parties will
attempt, in good faith, to reach settlement as
soon as possible. If the dispute is not resolved
it shall be referred to 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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: 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.
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