GOV.UK
THE CHILTERN RAILWAY COMPANY LIMITED
Company number: 03007939
Reporting period:
1 July 2018
to 31 December 2018
This report was filed on 23 January 2019
and approved by Alex Scott
Payment statistics
Average time taken to pay invoices: 43 days
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 65%
- in 61 days or more: 8%
Invoices due but not paid within agreed terms: 49 %
Payment terms
Standard payment period for qualifying contracts
61 days
Standard payment terms
It is the Company's policy to agree appropriate terms of payment with suppliers for each transaction or a series of transactions, and abide by those terms based on the timely submission of valid invoices.
Our 'Standard Payment Terms' are NET Monthly (meaning the end of the month, following the month of invoice), however, on some occasions variations to these standard payment terms might be agreed.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
61 days
Any other information about payment terms
N/A
Dispute resolution process
Dispute Escalation
Without prejudice to either Party's right to seek interlocutory relief in the courts the Parties shall use their best efforts to negotiate in good faith and settle amicably any dispute that may arise out of or relate to this Agreement (or its construction, validity or termination) (a "Dispute"). If a Dispute cannot be settled through negotiations by appropriate representatives of each of the Parties, either Party may give to the other a notice in writing (a "Dispute Notice"). Within seven days of the Dispute Notice being given the Parties shall each refer the Dispute to the senior representatives nominated by the [managing director] of each Party who shall meet in order to attempt to resolve the dispute. If the Dispute is not settled by agreement in writing between the Parties within 14 days of the Dispute Notice it shall be resolved in accordance with Clauses 32 and 37.
Mediation
Any Dispute may be referred to mediation in accordance with the Centre for Dispute Resolution (CEDR) Model Mediation Procedure. The mediation shall be conducted by a single mediator appointed by mutual agreement, or (failing mutual agreement within seven days of a notice from wither Party to the other calling upon the other so to agree) by the Centre for Dispute Resolution. Both Parties agree to co-operate fully with such mediator, provide such assistance as is necessary to enable the mediator to discharge his duties, and to bear equally between them the fees and expenses of the mediator.
The mediation shall be conducted in English. The mediation shall be conducted without prejudice to the rights of any of the Parties in future proceedings.
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.No
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