RAILPEN LIMITED
Company number: 02315380
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
24 July 2026
Approved by:
Nicholas Ranson
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? Yes
Payment statistics
Average time taken to pay invoices: 22 days
Total value paid:
- within 30 days: £32,718,411 (93%)
- in 31 to 60 days: £2,547,657 (7%)
- in 61 days or more: £102,281 (< 1%)
Invoices paid:
- within 30 days: 95%
- in 31 to 60 days: 5%
- in 61 days or more: 0%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £1,978,167
- payments due in the reporting period which have not been paid within the agreed period: 3%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
28 days
Standard payment terms
Railpen's standard payment terms are 28 days. A small number of suppliers are paid more promptly e.g. where supplies are deemed to be business critical or are identified as a micro business.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
28 days
N/A
Any other information about payment terms
N/A
Retention clauses
How does this business use retention clauses?
All construction contracts include retention clauses.
Does this business only use retention clauses in construction contracts above a specific contract sum?
No
Does this business use a standard percentage rate in retention clauses?
No
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Retention is released in payment applications following the occurrence of trigger events. Generally, half of the retention is released in the payment following practical completion of the works and the remaining half in the payment following the end of the defects liability period. In some circumstances, an element of retention has been held in lieu of a performance bond, with that element released in the application for payment following delivery of the performance bond.
Is the money released in stages?
Yes:
Retention is released in payment applications following the occurrence of trigger events. Generally, half of the retention is released in the payment following practical completion of the works and the remaining half in the payment following the end of the defects liability period. In some circumstances, an element of retention has been held in lieu of a performance bond, with that element released in the application for payment following delivery of the performance bond.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
4%
Dispute resolution process
Most suppliers submit invoices quoting a pre-approved Purchase Order Number. Invoices submitted without a valid Purchase Order Number will be rejected and the supplier asked to provide a valid Purchase Order Number. Payment dispute resolution mechanisms are standard within our contract practices. Payment resolution events are captured within our risk event process and attributed to Supplier Oversight if operational resolution is not an option. There is a clear escalation process.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No