LONDON SQUARE DEVELOPMENTS LIMITED

Subcontractors represent the London Square’s principal suppliers. The standard payment terms for subcontractors is 38 days from the date of application for payment. For other suppliers, payment terms vary from contract to contract. However, the most commonly used payment terms are the end of the following month from receipt of invoice. Where a supplier has longer payment terms, payment will be made early.

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For Subcontractors: Before payment is processed, the quantity surveyor over-looking the site will notify the supplier with the payment that will be made regarding that month’s work; including justification for any withheld sums. Where the supplier disputes this value, the supplier is asked to provide evidence to the quantity surveyor to support their claims that the value of the payment should differ. If no agreement is met, a meeting will be held between London Square’s Head or Director of Commercial and a director of the supplier in question. If an agreement is still not met, the dispute will go to an adjudication tribunal to have an independent body assess the dispute. For all other suppliers: Disputes or complaints should be raised with the individual who authorised the order, if this is not known then queries may be made to London Square’s accounts payable team, who will raise the matter with the responsible individual. If this does not resolve the query, then the matter will be escalated to the director responsible for the relevant department.