COLAS RAIL LIMITED

Company number: 02995525

Reporting period:
1 July 2023 to 31 December 2023

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This report was filed on 29 January 2024

and approved by Jean-Pierre Bertrand

Payment statistics

Average time taken to pay invoices: 28 days

Invoices paid:

• within 30 days: 70%
• in 31 to 60 days: 24%
• in 61 days or more: 6%

Invoices due but not paid within agreed terms: 28%

Payment terms

Shortest standard payment periods

28 days

Longest standard payment period

Answer not provided

Standard payment terms

Colas Rail look to apply the best industry practice for standard payment terms with all suppliers in line with the industry's fair payment charter.

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

30 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.

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