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WESTON HOMES PLC

Company number: 02133568

Reporting period:
1 February 2018 to 31 July 2018

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

This report was filed on 30 August 2018

and approved by STUART THOMAS

Payment statistics

Average time taken to pay invoices: 22 days

Invoices paid:

• within 30 days: 81%
• in 31 to 60 days: 15%
• in 61 days or more: 4%

Invoices due but not paid within agreed terms: 30 %

Payment terms

Shortest standard payment period

14 days

Longest standard payment period

90 days

Standard payment terms

The standard terms for payment of sub-contractor self-billing invoices is 14 days. This is on the basis that the sub-contractor has presented the invoice for payment at the correct time and that all the necessary authorisations have been obtained. The standard payment terms for suppliers is end of month following the invoice date.

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Initial queries or disputes with sub-contractors are dealt with by the site manager and/or commercial department. This can be escalated to a Director if necessary.
For suppliers, the first point of contact is the purchase ledger department. This department will liaise with the invoice approver to ascertain why an invoice has not been approved for payment. If the dispute cannot be resolved, it will be escalated to a Director.

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