EUROVIA INFRASTRUCTURE LIMITED

Company number: 07388667

Reporting period:
1 July 2018 to 31 December 2018

This information is as reported by the business, and responses are in their own words.

This report was filed on 29 January 2019

and approved by S Wardrop

Payment statistics

Average time taken to pay invoices: 54 days

Invoices paid:

within 30 days: 24%
in 31 to 60 days: 46%
in 61 days or more: 30%

Invoices due but not paid within agreed terms: 24%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

60 days

Standard payment terms

Earlier payment terms are available and can be agreed in certain circumstances or where there is a contractual requirement.

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

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

The Company has a 3 tier resolution process to resolve any disputes and invoice queries with its supply chain on a timely basis. The first tier involves Divisional and Operational staff who should be contacted in the first instance. The 2nd tier would involve the Category Manager and finally if disputes/queries still can't be resolved it can be escalated to the Eurovia UK Supply Chain Executive. To help resolve disputes and queries the Company may request further information. As part of our drive towards increasing the level of e-invoicing we encourage our supply chain to transmit their invoices via edi / web portal. Vendors submitting invoices via these methods can track receipt of their invoice and shortly will also be able to view other status information which will further improve communication between all parties in the event of a dispute.

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 and Construction Supply Chain Payment Charter

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.

Yes

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?