REDROW HOMES LIMITED
Company number: 01990710
2 July 2022
to 30 December 2022
This report was filed on 30 January 2023
and approved by Graham A Cope
Average time taken to pay invoices: 23 days
- within 30 days: 84%
- in 31 to 60 days: 14%
- in 61 days or more: 2%
Invoices due but not paid within agreed terms: 7 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Our standard payment terms for subcontractors are 30 days after the accounting month end. This is provided a valid application is received no later than the 5th working day following the accounting month end. Terms for a limited number of smaller subcontractors with a high labour element are 7 days following the end of each working week. This is provided a valid application is submitted in a timely manner.
Our standard payment terms for suppliers are 30 days.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
Queries or disputes should be raised with the Site Manager or Purchasing Manager in the first instance. Disputes can be escalated up the management chain if subsequently required. In respect of construction contracts, Redrow or the subcontractor may refer any disupute to adjudication to be determined under the Scheme for Construction Act Regulations 1996. If the dispute cannot be resolved in accordance with normal procedures and whether there has been adjudication or otherwise the dispute will be determined by litigation in the courts of England adopting English law.
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?