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KEEPMOAT HOMES LIMITED

Company number: 02207338

Reporting period:
1 May 2023 to 31 October 2023

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

This report was filed on 22 November 2023

and approved by Mark Priest

Payment statistics

Average time taken to pay invoices: 47 days

Invoices paid:

• within 30 days: 30%
• in 31 to 60 days: 35%
• in 61 days or more: 35%

Invoices due but not paid within agreed terms: 24 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

65 days

Standard payment terms

Keepmoat’s standard payment terms for product suppliers are between 30 days and 65 days after the end of the calendar month in which the goods are received. Keepmoat’s standard construction contract payment terms for subcontractors is between 35 days and 49 days after the end of the calendar month in which the application is received.

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

No

Maximum contractual payment period agreed

65 days

Any other information about payment terms

N/A

Dispute resolution process

To the extent that the Works are construction operations within the meaning of the Housing Grants Construction and Regeneration Act 96 part II (as amended by the Local Democracy, Economic Development and Construction Act 2009), any dispute or difference arising from or in connection with the Works shall be resolved in accordance with the provisions of the Scheme for Construction Contracts.

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.

Yes

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