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LONDON & SOUTH EASTERN RAILWAY LIMITED

Company number: 04860660

Reporting period:
31 December 2017 to 30 June 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 23 July 2018

and approved by Patrick Butcher

Payment statistics

Average time taken to pay invoices: 38 days

Invoices paid:

• within 30 days: 40%
• in 31 to 60 days: 52%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 14 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

London & South Eastern Railway Limited, a subsidiary of The Go-Ahead Group plc, an approved signatory of "The Prompt Payment Code", follow Group policy and agree appropriate terms of payment with suppliers for each transaction or series of transactions, abiding by those terms once suppliers present a valid invoice. The company normally settles trade payables at the end of the month following the month that the invoice is received, however, variations to these terms do exist based upon agreements with certain suppliers.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

London & South Eastern Railway is committed to paying suppliers in an honest, prompt and professional manner while seeking best value for the business. We endeavour to resolve any invoice queries as quickly as possible, and communication between the Accounts Payable team and the relevant supplier is instigated to resolve the matter. In the event that a dispute cannot be resolved by our accounts team, it would be escalated to the Financial Controller who will investigate and mitigate the issue.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

Yes – The Prompt Payment Code

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