| 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 Apr 2021 - 30 Sept 2021 | 21 Feb 2022 | 32 | 63% | 32% | 5% | 30% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Suppliers are predominantly paid on 30 days end of month. Subcontractors standard terms are 42 days from valuation date.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
The Company tries to avoid disputes with its supply chain. Where a dispute does occur the Senior commercial team will work with the supplier / subcontractor to resolve. Where this is not successful we may then use other methods of dispute resolution such as mediation, litigation or adjudication.
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
READIE CONSTRUCTION LIMITED is a in administration private limited company, incorporated on 26 January 2007, based in the London region. Registered business activity: Construction of commercial buildings.
From Companies House records.