TELFORD HOMES LIMITED
Company number: 04118370
Reporting period:
1 July 2023 to
31 December 2023
This report was filed on 23 January 2024
and approved by John Hickman
Payment statistics
Average time taken to pay invoices: 28 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 17%
- in 61 days or more: 3%
Invoices due but not paid within agreed terms: 26%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms for subcontractors are 28 days following the contractual application due date. Terms for a limited number of subcontractors are 14 days following the contractual application due date. Our standard payment terms for suppliers are 30 days or 30 days nett monthly (30 days from the end of the month of the invoice date).
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
If at any time any question, dispute or difference arises between Telford Homes Ltd and its suppliers, these should be raised with the Site Manager or relevant purchasing manager in the first instance. Telford Homes will take the correct measures to ensure that these are investigated and resolved in the quickest time possible to avoid disruption in supply. Disputes can be escalated up the management chain if subsequently required. In respect of subcontractor contracts, Telford Homes or the subcontractor may refer any dispute to adjudication in accordance with Part 1 of the Schedule to the Scheme for Construction Contracts (England and Wales) Regulations 1998.
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.
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.
No
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