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STANMORE CONTRACTORS LIMITED

Company number: 02754550

Reporting period:
1 April 2018 to 30 September 2018

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

This report was filed on 15 November 2018

and approved by Tanya Barrett

Payment statistics

Average time taken to pay invoices: 43 days

Invoices paid:

• within 30 days: 56%
• in 31 to 60 days: 37%
• in 61 days or more: 7%

Invoices due but not paid within agreed terms: 27 %

Payment terms

Shortest standard payment period

30 days

Longest standard payment period

60 days

Standard payment terms

Stanmore Contractors Limited does not have a standard payment term. Payment terms are agreed with suppliers at contract negotiation. The most frequently used payment terms in the reporting period are 30 days. we aim to pay subcontractors within 14 days from receipt of invoice.

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

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

We are constantly looking at ways to improve on the time it takes to pay our suppliers our aim is to pay all our suppliers within 30 days.

Dispute resolution process

Stanmore Contractors aim to resolve any dispute with the relevant supplier or subcontractor within a timely manner, this usually involves communicating with members of the procurement, finance, commercial , construction and management team.
Where a resolution cannot be reached, a dispute resolution method may be used.

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.

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.

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