| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2023 - 30 Jun 2023 | 27 Jul 2023 | 0 | 0% | 0% | 0% | 0% |
| 01 Jul 2022 - 31 Dec 2022 | 27 Jan 2023 | 26 | 74% | 22% | 4% | 16% |
| 01 Jan 2022 - 30 Jun 2022 | 28 Jul 2022 | 29 | 72% | 23% | 5% | 17% |
| 01 Jul 2021 - 31 Dec 2021 | 28 Jan 2022 | 30 | 65% | 29% | 6% | 23% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 36 | 43% | 47% | 10% | 26% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 39 | 38% | 52% | 10% | 30% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 38 | 39% | 51% | 10% | 28% |
| 01 Jul 2019 - 31 Dec 2019 | 28 Jan 2020 | 39 | 45% | 45% | 10% | 27% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 38 | 41% | 44% | 15% | 31% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 39 | 36% | 49% | 15% | 24% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 36 | 45% | 41% | 14% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
VolkerStevin Limited agree payment terms with suppliers and subcontractors as part of negotiating and agreeing their contracts. Our standard payment terms for suppliers and subcontractors with less than 50 employees is 30 days after the date of invoice. For other materials and plant suppliers our standard payment terms are 60 days after the date of invoice. Other payment terms will be agreed with our suppliers and subcontractors on an individual basis.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
On 1 January 2023 VolkerStevin Infrastructure Limited acquired the assets of VolkerStevin Limited. Please refer to the payment performance report of VolkerStevin Infrastructure Limited for the payment statistics of the combined entity during the reporting period.
Maximum contractual payment period agreed
60
Our dispute resolution process is clearly explained on our website and is as follows: In the first instance, all disputes will be raised and managed by the site teams. The supplier will be advised that there is a query relating to the goods and/or services supplied and it will be the initial responsibility of the site team to come to a resolution with the supplier. The following steps will be taken to raise and resolve a dispute: 1. The nature of the dispute is discussed between the site team and the supplier. 2. The site team and supplier will come to an agreed time frame for resolution. 3. The supplier is responsible for providing feedback to their accounts team relating to the nature of the dispute and the resolution date. 4. The respective site team will provide feedback to the VolkerWessels UK Accounts Payable team as to the nature and the resolution date of the dispute. 5. Within the agreed resolution timeframe; the VolkerWessels UK Accounts Payable team will await instructions from the site team as to whether or not the dispute has been resolved ahead of schedule and whether or not funds can be released to the supplier. 6. In instances where the stated resolution timeframe has elapsed, the VolkerWessels UK Accounts Payable team will escalate the matter to the appropriate management level to ensure a new resolution date or the release of funds to the supplier.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
VolkerStevin Limited is a civil engineering business, previously known as Volker Stevin Limited, Harbour & General Works Limited and Stevin Construction (U.K.) Limited. It is controlled by VolkerStevin Infrastructure Limited and forms part of the wider VolkerWessels UK group. The company undertakes civil engineering and infrastructure works, including public sector contracts such as basin rehabilitation for the Ministry of Defence, pumping station refurbishments for Defra, and tidal wall and flood defence schemes. Its own description states it helps improve neighbourhoods and communities across the UK by building infrastructure. It is registered in Hertfordshire and has been trading since 1934, making it one of the longest-established civil engineering firms in its area.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · companiesintheuk.co.uk