The payment charter and prompt payment code
We support the Construction Supply Chain Payment Charter and Prompt Payment Code, demonstrating our commitment to fair payment. We strongly believe that fair and transparent payment is essential to our supply chain partner relationships and the delivery of successful projects.
Better together
Our diverse supply chain provides us with innovative ways of working. It also allows us to maintain capacity in a growing construction market. We recognise that prompt payment maintains cash flow and provides confidence, helping to secure investment and jobs.
We've standardised payment terms with our supply chain partners. We continue to work hard to deliver on our payment commitments and we are determined to improve further.
We are doing this in a variety of ways:
- Continuously analysing supply chain payment performance as part of our regular finance reviews
- Introducing electronic solutions to improve timely receipt of Goods Received Notes
- Transitioning to full electronic invoicing in 2021
Our payment terms
Our standard payment terms are 30 days following the month in which the invoice or application was presented. In certain circumstances, this is reduced to 30 days from receipt of invoice.
Payment performance reporting
We report our payment performance every six months, in line with legislative requirements. A summary of the latest reports for Skanska UK’s relevant legal entities is published below.
Cementation Skanska
(Registered company number: 00937574)
|
Average time taken to pay invoices |
52 days |
|
Invoices paid within 30 days |
49% |
|
Invoices paid in 31 to 60 days |
41% |
|
Invoices paid in 61 days or more |
10% |
|
Invoices due but not paid within agreed terms |
10% |
Skanska Construction UK
(Registered company number: 191408)
|
Average time taken to pay invoices |
38 days |
|
Invoices paid within 30 days |
50% |
|
Invoices paid in 31 to 60 days |
42% |
|
Invoices paid in 61 days or more |
8% |
|
Invoices due but not paid within agreed terms |
8% |
Skanska UK Plc
(Registered company number: 00784752)
|
Average time taken to pay invoices |
61 days |
|
Invoices paid within 30 days |
49% |
|
Invoices paid in 31 to 60 days |
36% |
|
Invoices paid in 61 days or more |
15% |
|
Invoices due but not paid within agreed terms |
19% |
Skanska Rashleigh Weatherfoil
(Registered company number: 00798550)
|
Average time taken to pay invoices |
55 days |
|
Invoices paid within 30 days |
39% |
|
Invoices paid in 31 to 60 days |
49% |
|
Invoices paid in 61 days or more |
12% |
|
Invoices due but not paid within agreed terms |
11% |
Full reports are published on the GOV.UK website