FELTHAM CONSTRUCTION LIMITED

Subcontract:
Standard payment terms are set out with the subcontractor when the order is placed. Terms can range between 14 to 46 days. Payments are made by BACS and the time taken for payment to be received is included in the payment terms described in the subcontract order.

Purchase Ledger:
Standard payment terms for all major supplier accounts are payment to be received by the supplier by the end of the month following the invoice date. This gives a range of terms from 28 to 61 days, payments are made by BACs to reach suppliers by the due date.

General suppliers, professional fees and ad hoc payments can have terms from immediate payment to 30 days from date of invoice.

Subcontract ledger:
Any disputes regarding subcontract payments should be referred to the QS in the first instance. The QS will act to resolve the query as soon as possible. If the subcontractor wishes to escalate their query the matter should be referred to the Surveying Director. Once resolved payment will be made on the next available payment run.

Purchase Ledger:
Queries which arise regarding purchase ledger invoices are emailed to suppliers' credit controllers by the accounts team fortnightly as a minimum and followed up with a phone call if resolution not reached. Further to this queries may also be addressed by the Contracts Manager to the suppliers' sales department where specific details need to be discussed. Once resolved payment will be made on the next available payment run.