A. CONNOLLY LIMITED
Company number: 03860866
Reporting period:
1 April 2024 to 30 September 2024
Report filed on:
5 December 2024
Approved by:
Chris Connolly
Payment statistics
Average time taken to pay invoices: 30 days
Invoices paid:
- within 30 days: 50%
- in 31 to 60 days: 49%
- in 61 days or more: 1%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 10%
Payment terms
Shortest standard payment periods
37 days
Longest standard payment period
Answer not provided
Standard payment terms
There is a standard contract available for subcontractors, which specifies the process for valuation and payment of works.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
37 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
If the Contractor and the Sub-contractor cannot resolve any dispute or difference by negotiation then they shall attempt in good faith to resolve it through an ADR mediation procedure. The Contractor and the Sub-Contractor each has the right to refer any dispute under this order to adjudication. Adjudication shall be subject to and shall be referred and conducted in accordance with the Scheme of Construction Contracts or any modification thereof in force at the time of appointment of the adjudicator. References to “the contract” therein shall be read as references to this Order. The decision of the adjudicator shall be binding until the dispute is finally determined by arbitration, adjudication or by legal proceedings to correspond with the final form for dispute resolution in the Main Contract.
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 Fair 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.
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