KEYLINE CIVILS SPECIALIST LIMITED

Company number: SC042425

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 23 July 2024

and approved by Duncan Cooper

Payment statistics

Average time taken to pay invoices: 52 days

Invoices paid:

• within 30 days: 13%
• in 31 to 60 days: 62%
• in 61 days or more: 24%

Invoices due but not paid within agreed terms: 75%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

90 days

Standard payment terms

The company pays in line with the terms set out in written agreements with suppliers, which it has for the majority of goods for resale suppliers. Where a written agreement does not exist, the company will pay suppliers of goods for resale to 90 days after the invoice date, and suppliers of goods not for resale to 30 days after the invoice date, provided the supplier sends an accurate invoice which quotes the correct purchase order or cost centre number.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

107 days

The terms for the maximum contractual payment period agreed with a supplier states documents are due the 1st day of the 4th month following invoice date (average of 107 days). This contracted payment period was agreed with the supplier when they signed up to Supply Chain Finance.

Any other information about payment terms

The company raises payment instructions in line with the agreed payment terms, which make no allowance for fund transmission times. The funds are available to suppliers between 1 and 5 days after the payment terms date depending upon the method of transmission.

Dispute resolution process

Where non-payment is caused by invoicing inaccuracy due to incorrect pricing/quantities or the quality of goods or services provided, the person responsible for the purchase will dispute the invoice by placing it on hold. Invoices that are subject to a dispute will not be paid until the issue is resolved. Suppliers are informed of held items in every remittance advice which is sent out. Once resolved, payment will be made in accordance with the terms of the contract, unless the invoice is overdue where it will be paid in the next available payment run.

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, this business has not signed up to a code of conduct or standards on payment practices.

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.

No

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.

Yes

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