Company number: 02472080
and approved by Andrew Duxbury
Average time taken to pay invoices: 28 days
Invoices paid:
Invoices due but not paid within agreed terms: 8%
0 days
45 days
Purchase Ledger (supplier payments) - Payment unless stated otherwise in the Purchase Order will be made 45 days (30 days for small suppliers) after the date of a valid invoice bearing the Purchaser's Purchase Order number provided the Goods have been delivered and all requisite contract documentation submitted in accordance with the Contract prior to receipt of the said invoice. Sub-contract Ledger - Our standard payment terms are variable and between 30 and 45 days from the measured to date dependent on the subcontract agreement Where obligated by our clients we pass down the client contract payment terms in our subcontract agreements.
With effect from 1/7/2021 our maximum supplier payment terms were improved to 45 days (30 days for small suppliers) from receipt of valid invoice. Previously a maximum of 91 days.
Suppliers were given advance notice to the improved payment terms in May 2021.
45 days
The maximum contractual payment period is 45 days after the invoice is received
The statistical information provided includes payments to both purchase ledger and sub-contract suppliers. Galliford Try takes its payment responsibilities to its supply chain very seriously and has made significant improvements in its processes over the last three years, including reducing default payment terms to 45 days from date of receipt of invoice. In response to the latest PPC target to pay 95% of small suppliers with < 50 employees within 30 days, small supplier payment terms have been further shortened. This has led to a substantial improvement in our performance in the 4th Quarter of 2021, compared to the 6 months performance reported below. Payments in the 6 months to 31/12/21 for identifiable supplier companies with under 50 employees: 30 Days or Less % of Total: 78% 31 to 60 Days % of Total : 20% After 60 Days % of Total : 2% Avg Days to Pay : 28
Galliford Try is committed to fair dealing with all of its supply chain members, and transparency and swift resolution of disputed items are key principles in this process. Galliford Try has dedicated teams, based at the Shared Service Centre, for dealing with supplier queries and old invoices. The Reconciliations Team responsible for; • Formal supplier statement reconciliation, requesting copies of POD’s, invoices and credit notes where differences are identified The Calls and Supplier Debt Teams responsible for; • Working with Business units/suppliers to clear invoices on hold and aged invoices
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Prompt Payment Code
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
Yes
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
No
No