MORGAN SINDALL CONSTRUCTION & INFRASTRUCTURE LTD
Company number: 04273754
1 July 2018
to 31 December 2018
This report was filed on 23 January 2019
and approved by Joe Ledwidge
Average time taken to pay invoices: 44 days
- within 30 days: 35%
- in 31 to 60 days: 43%
- in 61 days or more: 22%
Invoices due but not paid within agreed terms: 19 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
Morgan Sindall operates shorter payment terms in certain circumstances, including where we have specific payment commitments on frameworks with key customers e.g. 30 days. This is reflected in our average days to pay, when compared to our standard payment terms of 75 days for purchase ledger suppliers, and 49 days (from valuation date) for subcontractors.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
The maximum contractual payment period was 75 days. These terms have been agreed with individual strategic suppliers. There have been no changes to standard terms within the period.
Any other information about payment terms
Dispute resolution process
Invoice queries should be addressed to the buyer who placed the individual order as the first point of contact, and the contact details are clearly stated on the Purchase order. In the event that this should not yield a solution please request the issue to be escalated to the Director of Procurement.
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?