ARRIVA RAIL NORTH LIMITED
Company number: 04337712
1 April 2022
to 30 September 2022
This report was filed on 26 October 2022
and approved by Alex Scott
Average time taken to pay invoices: 147 days
- within 30 days: 39%
- in 31 to 60 days: 16%
- in 61 days or more: 44%
Invoices due but not paid within agreed terms: 77 %
Shortest standard payment period
Longest standard payment period
Standard payment terms
It is the company’s policy to agree appropriate terms of payment with suppliers for each transaction or series of transactions, and to abide by those terms based on the timely submission of valid invoices. The company’s standard payment terms is end of month following from date of a correctly submitted invoice, however, on some occasions variations to these standard payment terms may be agreed via contractual negotiations or as a variation request and approval process.
Were there any changes to the standard payment terms in the reporting period?
Maximum contractual payment period agreed
Any other information about payment terms
Dispute resolution process
The company seeks to deal with suppliers of all sizes in a fair and reasonable manner. The operating company seek to respond and address supplier queries as quickly as possible in relation to invoicing or payment. In the event that a dispute cannot be resolved by the central Accounts Payable team, it would escalate in the first instance to Senior Management or our Procurement team for resolution. Contracts will look to define a dispute resolution process as far as possible.
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.
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.
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.
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?
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?