KEYLINE CIVILS SPECIALIST LIMITED

Standard payment terms

The company pays in line with the terms set out in written agreements with suppliers, which it has for the majority of goods for resale suppliers. Where a written agreement does not exist, the company will pay suppliers to 60 days end of month (75 days average) after the invoice date, provided the supplier sends an accurate invoice which quotes the correct purchase order or cost centre number. Rent payment schedules are set upon entering into a lease contract and payment terms are agreed as part of contract negotiations. No invoices are received as such and most payments are made on or before the due date.

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

In July 2024 we introduced our new finance management system, Oracle. Oracle is enabling us to simplify and standardise payment processes across the Travis Perkins Group, ensuring our Accounts Payable department can service and support our suppliers most effectively when arranging payments and dealing with any queries. This has required us to make some adjustments to the frequency of payment runs we are able to support. We are also taking the opportunity to harmonise our payment terms, where appropriate, across our supplier base to drive greater consistency in our relationships and align supplier invoice terms to our own customers’ standard end-of-month payment cycles.

Any other information about payment terms

The company raises payment instructions in line with the agreed payment terms, which make no allowance for fund transmission times. The funds are available to suppliers between 1 and 5 days after the payment terms date depending upon the method of transmission.

Maximum contractual payment period agreed

107

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