AVANT HOMES GROUP LIMITED

Company number: 09304211

Reporting period:
1 January 2024 to 30 June 2024

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

This report was filed on 31 July 2024

and approved by Richard Stenhouse

Payment statistics

Average time taken to pay invoices: 55 days

Invoices paid:

within 30 days: 17%
in 31 to 60 days: 53%
in 61 days or more: 30%

Invoices due but not paid within agreed terms: 10%

Payment terms

Shortest standard payment periods

60 days

Longest standard payment period

Answer not provided

Standard payment terms

The payment terms adopted by the Avant Homes Group are for invoices to be settled on the next payment run following the credit terms requested by the respective supplier. These terms range from immediate payment, to payment falling due at the end of the month following the invoice date. Consequently, when the invoice is approved by the appropriate delegated authority, it is allocated for payment accordingly. The Avant Homes Group standard payment terms is 60 days which is applied to all new suppliers. There have been no changes to this policy during the reporting period.

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

At Avant, we strive to resolve queries and disputes on a timely basis. In respect of subcontractors, our dispute resolution process involves a collaborative review of progress on site between Avant surveyor and subcontractor, inclusive of Avant quality check, with reference to the application made. In the majority of circumstances, our commercial staff will resolve a dispute directly with the subcontractor. In respect of suppliers, goods received are inspected and receipted on site with any issues arising communicated to the supplier via telephone or email. In the rare event that a dispute cannot be resolved by commercial staff the matter will be referred to our in-house legal counsel. The figures above have not been amended to remove invoices where were under query or 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.

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.

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?