NATIONAL EXPRESS LIMITED
Company number: 00232767
Reporting period:
1 July 2023 to 31 December 2023
Report filed on:
31 January 2024
Approved by:
Neil Miles
Payment statistics
Average time taken to pay invoices: 23 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 16%
- in 61 days or more: 3%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
21 days
Longest standard payment period
45 days
Standard payment terms
National Express Limited operates two types of contracts, namely for specific operator services and general goods and services. Operator services payments are settled within 21 days following the contract period-end date. Invoices related to general goods and services contracts will be paid within 45 days after the date on which National Express Limited received the invoice provided it has been supplied together with a valid purchase order number and full details of the services, including goods if relevant, delivered, including description, quantity, price and value added tax.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
The Supplier invoice dispute process is administered by accounts payable within National Express Limited Shared Services Centre. In the event a dispute cannot be resolved between the Supplier and Accounts Payable the dispute us escalated to the Head of Shared Services who will take ownership of the dispute and investigate the circumstances with all parties concerned to seek to achieve an agreed resolution. If the dispute still cannot be resolved, it may be escalated to relevant individuals within the relevant business unit and, if such escalation does not resolve the dispute, the relevant resolution mechanism in the relevant supply contract will be relied on to resolve the dispute.
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.
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