Company number: 01977948
and approved by Philip Wainwright
Average time taken to pay invoices: 33 days
Invoices paid:
Invoices due but not paid within agreed terms: 11%
30 days
45 days
The standard terms vary according to the type of supply as follows: Sub-Contractors – 45 or 30 days from assessment date. Applications are requested up to 5 days before the assessment date. General Suppliers & Consultants – 30 days from date of invoice Suppliers of major materials – 30 days from end of month of supply
Answer not provided
N/A
60 days
No further comment provided
For smaller businesses, 76% of invoices were paid within 30 days.
Wates seeks to avoid disputes by discussing matters directly with the relevant supplier. All standard agreements set out a dispute resolution process. In the first instance contact is with the accounts payment team or commercial staff responsible for the matter. If it cannot be resolved at that level there is an escalated negotiation option involving a senior member of the business team. If the matter cannot be resolved at that senior level the preference is to refer to some form of ADR (mediation, expert determination, etc.) but adjudication or legal proceedings may be used.
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Prompt Payment Code
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No