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KIER FACILITIES SERVICES LIMITED

Company number: 02624887

Reporting period:
1 July 2023 to 31 December 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 30 January 2024

and approved by Matthew Dulson

Payment statistics

Average time taken to pay invoices: 25 days

Invoices paid:

• within 30 days: 60%
• in 31 to 60 days: 32%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 29 %

Payment terms

Standard payment period for qualifying contracts

7 days

Standard payment terms

Payment terms are agreed with suppliers and
subcontractors as part of contract negotiations
and aligned with relevant codes to ensure
compliance. Terms vary from 7 days from
invoice received date (IRD) to 60 days from
IRD; the most common payment term is 30 days
from IRD.

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

No

Maximum contractual payment period agreed

60 days

Maximum payment terms apply to only a very
small percentage of supply chain partners
where those terms have been negotiated and to
align with the broader working capital cycles in
that particular work sector.

Any other information about payment terms

Kier Facilities Services Limited is a proud
signatory of the Prompt Payment Code and
committed to meeting the targets and guidance
provided as part of this Code. Kier Facilities
Services Limited has invested significant
resource in governance, systems and process
improvements to improve payment to terms of
its valued supply chain partners.
Per guidance from the Prompt Payment Code,
Kier Facilities Services Limited is committed to
payment of all compliant invoices provided by
suppliers deemed small companies (having less
than 50 employees) within 30 days; these also
form part of Kier Facilities Services Limited
commitments to the frameworks and contracts
entered into where standard payment terms are
30 days or less. Changes have been made to
core systems to identify companies within this category for Code reporting purposes while
management focus continues on improving
payment experiences for all suppliers.

Dispute resolution process

Kier Facilities Services is a strong advocate of
fair treatment for all supply chain partners and
constantly strives to improve transparency,
increase certainty of payment and in reduce
time to pay. We are working hard to simplify
internal processes and approvals, towards
minimising time to pay for our supply chain
partners; we are also working with those supply
chain partners to inform and upskill where
required towards right first time invoicing to
avoid payment delays.
Where they happen, Kier Facilities Services
actively seeks to resolve disputes as quickly as
possible, through close interaction with
suppliers; in the interests of fair treatment for all
supply chain partners, dispute resolution is
treated as a priority. Typically, these issues can
be resolved through coordination between our
payables teams and supplier credit control
teams within an agreed process for dealing with
disputes which is communicated to suppliers,
and where necessary procurement and
commercial teams are engaged to support the
earliest commercial resolution; where resolution
is still unable to be achieved, senior
management will be engaged towards the
swiftest possible conclusion. Where agreement
cannot be reached to the mutual satisfaction of
both parties other dispute resolution channels
will be deployed, such as mediation, arbitration
and expert determination.

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.

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