KIER INFRASTRUCTURE AND OVERSEAS LIMITED

Payment terms are agreed with suppliers and subcontractors as part of contract negotiations and aligned with relevant codes to ensure compliance. Terms vary from 7 days from invoice received date (IRD) to 60 days from IRD; the most common payment term is 60 days from IRD.

Kier Infrastructure and Overseas Limited has invested significant resource in governance, systems and process improvements to improve payment to terms of its valued supply chain partners.
Kier Infrastructure and Overseas Limited is committed to payment of all compliant invoices provided by suppliers deemed small companies (having less than 50 employees) within 30 days; these also form part of Kier Infrastructure and Overseas Limited commitments to the frameworks and contracts entered into where standard payment terms are 30 days or less. Changes have been made to core systems to identify companies within this category while management focus continues on improving payment experiences for all suppliers.

Kier Infrastructure and Overseas is a strong advocate of fair treatment for all supply chain partners and constantly strives to improve transparency, increase certainty of payment and in reduce time to pay. We are working hard to simplify internal processes and approvals, towards minimising time to pay for our supply chain partners; we are also working with those supply chain partners to inform and upskill where required towards right first time invoicing to avoid payment delays.
Where they happen, Kier Infrastructure and Overseas actively seeks to resolve disputes as quickly as possible, through close interaction with suppliers; in the interests of fair treatment for all supply chain partners, dispute resolution is treated as a priority. Typically, these issues can be resolved through coordination between our payables teams and supplier credit control teams within an agreed process for dealing with disputes which is communicated to suppliers, and where necessary procurement and commercial teams are engaged to support the earliest commercial resolution; where resolution is still unable to be achieved, senior management will be engaged towards the swiftest possible conclusion. Where agreement cannot be reached to the mutual satisfaction of both parties, other dispute resolution channels will be deployed, such as mediation, arbitration and expert determination.