Company number: 00836946
1 July 2018
to 31 December 2018
This report was filed on 23 January 2019
and approved by Neil Skelding
Average time taken to pay invoices: 26 days
- within 30 days: 77%
- in 31 to 60 days: 19%
- in 61 days or more: 4%
Invoices due but not paid within agreed terms: 25 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Standard payment terms are between 30 and 60 days.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Maximum contract period: further information The maximum contractual payment period was 60 days, aligned with client-driven terms. These terms have been agreed with individual suppliers. Change
Any other information about payment terms
Payment terms are not altered according to the size of either the contract or the supplier.
Dispute resolution process
A dispute resolution process is included within each subcontract order placed. Should there be a dispute with a supplier or subcontractor, the company’s resolution process is to engage with other party in order to resolve the issue in a timely fashion. Any subcontractors that are not satisfied by this process are able to call upon the dispute resolution process contained within the Construction Act. Given the fast-paced nature of the fit out industry, legal recourse is not the preferred route.
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.
Yes – 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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?