RAIL SAFETY AND STANDARDS BOARD LIMITED
Company number: 04655675
Reporting period:
1 April 2026 to 30 September 2026
Report filed on:
22 October 2026
Approved by:
Hannah Kingsley
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? No
Payment statistics
Average time taken to pay invoices: 24 days
Total value paid:
- within 30 days: £10,710,250 (85%)
- in 31 to 60 days: £1,481,740 (12%)
- in 61 days or more: £480,988 (4%)
Invoices paid:
- within 30 days: 86%
- in 31 to 60 days: 11%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £1,962,728
- payments due in the reporting period which have not been paid within the agreed period: 14%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
30 days
Standard payment terms
RSSB's standard payment terms are 30 days from the date of receipt of a valid invoice. Whilst a small number of suppliers have individually negotiated terms of up to 60 days, our company standard is 30 days and the percentage of late payments has been calculated on a 30-day basis consistently across all suppliers. Payment is processed through our Continia invoice management system in accordance with our purchase order and authorisation policy.
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
3,650 days
The maximum contract period reported includes all possible extension options available under the contract, not just the initial term. The figure reflects the total maximum duration if all extension options were exercised.
Any other information about payment terms
RSSB uses an electronic invoice processing system (Continia) integrated with Microsoft Dynamics 365 Business Central. Invoice received date is recorded as the Continia import date, representing when the invoice entered our processing system. For invoices not processed through Continia, the invoice document date is used as a proxy for the received date.
Dispute resolution process
Where RSSB considers an invoice to be invalid or disputed, we notify the supplier promptly in writing, setting out the reason. We work with the supplier to resolve the matter, including through resubmission of a corrected invoice where appropriate. Where a dispute cannot be resolved, the parties will attempt to settle it by mediation in accordance with the Centre for Effective Dispute Resolution (CEDR) Model Mediation Procedure. If mediation is unsuccessful, the dispute is referred to the Courts of England and Wales in accordance with the governing law provisions of the relevant contract.
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.
Yes
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