Published reports

R.J. MCLEOD (CONTRACTORS) LIMITED

Company number: SC028565

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

Reporting period:

1 May 2024 to 31 October 2024

Report filed on:

20 November 2024

Approved by:

N M Judd

Payment statistics

Average time taken to pay invoices: 30 days

Invoices paid:

within 30 days: 56%
in 31 to 60 days: 40%
in 61 days or more: 4%

Late and disputed:

payments due in the reporting period which have not been paid within the agreed period: 32%

Payment terms

Shortest standard payment periods

7 days

Longest standard payment period

75 days

Standard payment terms

We aim to pay in accordance with suppliers’ terms for general goods and services. The standard length of time for payment of invoices is 30 days from end of month of invoice date.

Were there any changes to the standard payment terms in the reporting period?

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

75 days

Only applies where suppliers’ terms are 60 days from end of month of invoice date.

Any other information about payment terms

The standard contractual length of time for payment in construction contracts is 35 days from submission of valuation, but this is reduced to between 7 and 14 days for smaller labour only subcontractors.

Dispute resolution process

We aim to resolve disputes at a local level.

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 Fair 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?