Self Billing Agreements Update

Posted: Thu, 21 Jan 2021 14:59

Back in 2019 we shared with you the news that we would be updating our self-billing agreements so that we can process more payments through this method in our new COINS system. We are in the process of rolling out the new COINS update to our remaining divisions after a successful pilot and therefore more divisions are asking their subcontractors to sign up to the new agreement. By Spring 2021, all subcontractors should have signed up to the new self-billing agreement.

As a reminder, the benefits of self-billing are:

  • You get paid quicker. The time currently taken raising an invoice, submitting the invoice and our processing the invoice is significantly reduced. This is especially relevant if you are unaware of the amount chargeable, such as construction work that must be valued by a surveyor. The valuation progress tick is entered into the system by the surveyor electronically.
  • You do not need to send us invoices, as we are generating them for you. This will save you time and paperwork.
  • Fewer disputes due to greater accuracy. Payments are enter once, based upon the information provided by you at tender stage. We pay against what you tender.
  • Improved cash-flow. Where works are VAT-applicable, you are only liable for that VAT at the payment stage rather than earlier when raising the invoice.

Our Pilot and Wave 1 divisions will have already sent out the new agreement to the subcontractors they use. If you haven't received this yet, please get in touch with the division. Our Wave 2 and 3 divisions will be shortly embarking on the COINS upgrade and will be sending out the updated agreements soon. You will need to sign the updated agreement for each division you work for and send it back. In the future, we will look to share the self-billing agreement information across all our division offices to save on paperwork.

Our Pilot and Wave 1 Divisions are:

  • Mercia
  • East Yorkshire
  • West London
  • South West
  • Bristol
  • North Midlands
  • North East
  • West Yorkshire
  • Exeter

Our Wave 2 and 3 Divisions are:

  • Southern Counties
  • Kent
  • North Thames
  • Southampton
  • East London
  • Manchester
  • West Midlands
  • North West
  • South Wales
  • Northampton
  • East Midlands
  • South Midlands
  • Eastern Counties
  • Southern
  • Cambridgeshire
  • North Scotland
  • East Scotland
  • West Scotland

Tags: Barratt, Coins, David Wilson