SELECT PLANT HIRE COMPANY LIMITED
Company number: 01973463
Reporting period:
1 October 2024 to 31 March 2025
Report filed on:
30 April 2025
Approved by:
Alex Warrington
Payment statistics
Average time taken to pay invoices: 33 days
Invoices paid:
- within 30 days: 65%
- in 31 to 60 days: 23%
- in 61 days or more: 12%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 46%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
91 days
Standard payment terms
Payment terms are agreed with subcontractors and suppliers as part of contract negotiations and to complywith any statutory and client contractual requirements. Terms agreed range from 7 Days to 60 Days frommonth end of invoice.
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
91 days
Select Plant Hire Limited is a proud signatory of the Prompt Payment Code and remains committed to meetingthe targets and guidance provided as part of this Code. Select Plant Hire Limited continues to invest significantresource in our governance, systems and processes to improve payment to terms of its valued supply chainpartners. In accordance with the Prompt Payment Code, Select Plant Hire Ltd is focused on payment of allcompliant invoices provided by suppliers deemed to be small companies (defined as those having fewer than50 employees) within 30 days. System enhancements have been made to identify companies within thiscategory while management focus continues on improving payment experiences for all supply chain members.
Any other information about payment terms
The maximum contractual payment period is 60 Days from month end of invoice.
Dispute resolution process
Select Plant Hire Limited is committed to fair treatment of all its supply chain partners and promotestransparency and swift resolution of any dispute. For both supplier and subcontractor disputes the process will involve the Accounts Payable Department andmay involve members of Procurement, Office Management and Commercial and where necessary otherSenior Management. Subcontractor disputes will initially be addressed by the Project Commercial team.Following escalation to Senior Management, on rare occasions where it is not possible to reach an agreementsuitable to both parties, other methods of dispute resolution may include but are not limited to mediation,adjudication, expert determination and/or arbitration.
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.
Yes, this business has signed up to: The 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