HENRY BOOT CONSTRUCTION LIMITED

Company number: 02880202

Reporting period:
1 January 2024 to 30 June 2024

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This report was filed on 26 July 2024

and approved by Darren Littlewood

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

• within 30 days: 71%
• in 31 to 60 days: 26%
• in 61 days or more: 3%

Invoices due but not paid within agreed terms: 17%

Payment terms

Shortest standard payment periods

16 days

Longest standard payment period

36 days

Standard payment terms

Henry Boot Construction standard supplier payment terms (excluding sub-contractors) are 36 days from date of receipt of invoice. This is subject to anything contained within a specific contract. The due date for these payments is calculated by applying agreed terms to the date of receipt of invoice. If an invoice falls due during a weekend or bank holiday, the payment transaction is executed on the following business day. Henry Boot subcontractor payment terms are in accordance with the UK Construction Act. These terms are calculated from the date of payment notice being submitted to the sub-contractor to clearance of sums, which gives a total of 16 days for cleared payments to be made. All invoices received are required to comply with our invoice requirements, otherwise we reserve the right to not process the document for payment until it has been corrected. Terms are negotiated and agreed with suppliers on initial engagement.

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

36 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

In the event of a complaint or dispute about the payment of an invoice, in the first instance contact should be made with the relevant company’s purchase ledger department to find out what the problem is. If the Purchase Ledger contact is unable to provide the details of the dispute on the invoice, in the second instance, contact should be made with the person who placed the order with the relevant supplier. In respect of suppliers of goods, goods received are inspected and receipted on site with any issues arising communicated to the supplier via telephone or email. For construction related disputes, these are governed by the relevant sub-contract, which complies with the UK Construction Act and may contain more specific procedures or requirements.

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, this business has signed up to: 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.

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