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Company number: 02644726

Reporting period:
1 July 2022 to 31 December 2022

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

This report was filed on 27 January 2023

and approved by Geoffroy-Romain Renaud

Payment statistics

Average time taken to pay invoices: 63 days

Invoices paid:

Invoices due but not paid within agreed terms: 61 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

Colas Limited has standard payment terms of 45 days from receipt of invoice. Historically payment terms were agreed with suppliers as part of contract negotiations.

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


Maximum contractual payment period agreed

60 days

At the start of the year Colas Ltd implemented the Colas Group ERP system and a new invoice scanning solution, which requires system generated purchase orders to be issued for all goods and services which are then 3-way matched resulting in an improved purchase to pay process. There were many delays and teething problems during the first half of 2022, which has impacted on our supplier payment performance. We have recruited additional resources, streamlined our processes, and have made good progress during the second half in tackling the problems encountered, although efforts are still ongoing, and we are committed to making further improvements. We have a target of paying 95% of invoices within 60 days by the end of 2023.

Any other information about payment terms


Dispute resolution process

Colas Limited actively seeks to resolve disputes by discussing them with the relevant supplier(s), typically involving members of the accounts payable and accounts receivable departments and /or the procurement and commercial teams and / or where necessary members of management. However, where it is not possible to reach agreement, a number of potential dispute resolution methods (for example, mediation, adjudication, expert determination, litigation and / or arbitration) may be used.

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.


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.


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?


During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?