ST. MODWEN DEVELOPMENTS LIMITED
Company number: 00892832
1 January 2023
to 30 June 2023
This report was filed on 31 July 2023
and approved by Thomas Olsen
Average time taken to pay invoices: 24 days
- within 30 days: 84%
- in 31 to 60 days: 13%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 15 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
St. Modwen Developments Ltd’s standard
supplier payment terms are ’45 days from
date of invoice’. Subcontractor suppliers are
paid more quickly 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 28 days after the
Application Date ("Payment Due Date"). St.
Modwen Developments Ltd is committed to
supporting SMEs which are therefore paid on
shorter terms, between 14 and 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
As per the Prompt Payment Code we aim to
pay all suppliers with less than 50 employees
within 30 days of receipt of a compliant
invoice, i.e. quoting the correct Purchase
Dispute resolution process
St. Modwen Developments 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
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?