COLAS RAIL LIMITED

Company number: 02995525

Reporting period:
1 July 2022 to 31 December 2022

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

This report was filed on 27 January 2023

and approved by Jean-Pierre Bertrand

Payment statistics

Average time taken to pay invoices: 35 days

Invoices paid:

within 30 days: 65%
in 31 to 60 days: 21%
in 61 days or more: 14%

Invoices due but not paid within agreed terms: 42%

Payment terms

Shortest standard payment periods

28 days

Longest standard payment period

Answer not provided

Standard payment terms

Standard payment terms for suppliers are 28 days from the date of receipt of a valid invoice.

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

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Colas Rail endeavours to resolve all disputes quickly and efficiently with the relevant contracting party through open communication. Where this is not possible the dispute resolution procedure set out in the contract provisions or relevant legislation (i.e. the Construction Act) will be followed. All dispute resolution escalation is sent directly to the Legal Department for timely resolution.

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, this business has signed up to: Network Rail Fair Payment Charter

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?