Train GraphicClick on the map to explore geographics
 
I need help
FAQ
Emergency
About .
Travel & transport from BBC stories as at 04:15 29 Mar 2024
- Bus plunges off South Africa bridge, killing 45
* Easter getaway begins with flood alerts in place
- Easter travel warning as millions set to hit roads
Read about the forum [here].
Register [here] - it's free.
What do I gain from registering? [here]
 02/06/24 - Summer Timetable starts
17/08/24 - Bus to Imber
27/09/25 - 200 years of passenger trains

On this day
29th Mar (1913)
Foundation of National Union or Railwaymen (*)

Train RunningCancelled
07:00 Bedwyn to Newbury
07:22 Newbury to Bedwyn
08:13 Newbury to Bedwyn
08:46 Bedwyn to Newbury
09:54 Bedwyn to Newbury
10:22 Newbury to Bedwyn
11:29 Newbury to Bedwyn
11:57 Bedwyn to Newbury
12:52 Bedwyn to Newbury
Short Run
04:54 Plymouth to London Paddington
05:12 Reading to Bedwyn
05:33 Plymouth to London Paddington
05:55 Plymouth to London Paddington
06:00 Bedwyn to London Paddington
06:37 Plymouth to London Paddington
07:03 London Paddington to Paignton
08:35 Plymouth to London Paddington
10:35 London Paddington to Exeter St Davids
Delayed
21:45 Penzance to London Paddington
23:45 London Paddington to Penzance
05:03 Penzance to London Paddington
06:05 Penzance to London Paddington
07:10 Penzance to London Paddington
08:03 London Paddington to Penzance
08:15 Penzance to London Paddington
09:04 London Paddington to Plymouth
09:37 London Paddington to Paignton
10:04 London Paddington to Penzance
11:03 London Paddington to Plymouth
PollsOpen and recent polls
Closed 2024-03-25 Easter Escape - to where?
Abbreviation pageAcronymns and abbreviations
Stn ComparatorStation Comparator
Rail newsNews Now - live rail news feed
Site Style 1 2 3 4
Next departures • Bristol Temple MeadsBath SpaChippenhamSwindonDidcot ParkwayReadingLondon PaddingtonMelksham
Exeter St DavidsTauntonWestburyTrowbridgeBristol ParkwayCardiff CentralOxfordCheltenham SpaBirmingham New Street
March 29, 2024, 04:34:45 *
Welcome, Guest. Please login or register.

Login with username, password and session length
Forgotten your username or password? - get a reminder
Most recently liked subjects
[98] West Wiltshire Bus Changes April 2024
[97] would you like your own LIVE train station departure board?
[86] Return of the BRUTE?
[74] Infrastructure problems in Thames Valley causing disruption el...
[53] If not HS2 to Manchester, how will traffic be carried?
[23] Reversing Beeching - bring heritage and freight lines into the...
 
News: the Great Western Coffee Shop ... keeping you up to date with travel around the South West
 
   Home   Help Search Calendar Login Register  
Pages: [1]
  Print  
Author Topic: Network rail switch to immediate payment terms  (Read 15351 times)
grahame
Administrator
Hero Member
*****
Posts: 40690



View Profile WWW Email
« on: April 03, 2020, 03:12:42 »

from New Civil Engineer

Quote
Network Rail has committed itself to “immediate” payment terms to its suppliers during the coronavirus crisis.

Under the new terms thousands of British suppliers will receive payments quicker than they were expected.

From Monday 30 March, Network Rail has committed to pay its suppliers immediately, or as close to immediately as possible, following approval of the payment ledger, with the expectation that subsequent payments flow down the supply chain.

This means payment could be up to seven days quicker for SMEs and up to 28 days quicker for other suppliers.

Historically, large firms have taken a long time to pay their bills - a real nightmare for smaller businesses like ours who's customer base was large firms using us for very occasional needs.  And with the coming of the "electronic age" this long delay - said to allow for authorisations and payment systems - became unnecessary of that reason ... the real reason in many cases being for the customer to have their cash flow helped and borrowing requirements reduced at the expense of their suppliers.

Good to read that Network Rail are taking out one section of the delay - the delay between approval at the end of their system and actual payment.

This practise is not limited to Network Rail and I hope that big companies in the rail sector, and other payees such as government bodies local and national, will also modernise their systems such that they, too, pay promptly.  Just the other day I saw "terms - we will pay within 45 days of approval". It's well documented that many taxi operators won't take TOC (Train Operating Company) contracts because of how long they're kept waiting for their money.
Logged

Coffee Shop Admin, Acting Chair of Melksham Rail User Group, Option 24/7 Melksham Rep
Electric train
Transport Scholar
Hero Member
******
Posts: 4356


The future is 25000 Volts AC 750V DC has its place


View Profile
« Reply #1 on: April 03, 2020, 07:11:34 »

from New Civil Engineer

Quote
Network Rail has committed itself to “immediate” payment terms to its suppliers during the coronavirus crisis.

Under the new terms thousands of British suppliers will receive payments quicker than they were expected.

From Monday 30 March, Network Rail has committed to pay its suppliers immediately, or as close to immediately as possible, following approval of the payment ledger, with the expectation that subsequent payments flow down the supply chain.

This means payment could be up to seven days quicker for SMEs and up to 28 days quicker for other suppliers.

Historically, large firms have taken a long time to pay their bills - a real nightmare for smaller businesses like ours who's customer base was large firms using us for very occasional needs.  And with the coming of the "electronic age" this long delay - said to allow for authorisations and payment systems - became unnecessary of that reason ... the real reason in many cases being for the customer to have their cash flow helped and borrowing requirements reduced at the expense of their suppliers.

Good to read that Network Rail are taking out one section of the delay - the delay between approval at the end of their system and actual payment.

This practise is not limited to Network Rail and I hope that big companies in the rail sector, and other payees such as government bodies local and national, will also modernise their systems such that they, too, pay promptly.  Just the other day I saw "terms - we will pay within 45 days of approval". It's well documented that many taxi operators won't take TOC (Train Operating Company) contracts because of how long they're kept waiting for their money.

NR» (Network Rail - home page) rely on a lot of small suppliers especially in the second and third tier suppliers many offer bespoke services and equipment supply / repair so its key for NR to protect these businesses
Logged

Starship just experienced what we call a rapid unscheduled disassembly, or a RUD, during ascent,”
Bob_Blakey
Transport Scholar
Hero Member
******
Posts: 783


View Profile
« Reply #2 on: April 03, 2020, 08:17:47 »

This shouldn't be news; recipients of goods & services should have been doing this anyway, subject to a very minor delay to allow any invoice to be checked for veracity. Time for legislation?

(Yes I do have a degree in 'The Statement Of The Bl**ding Obvious).
Logged
Electric train
Transport Scholar
Hero Member
******
Posts: 4356


The future is 25000 Volts AC 750V DC has its place


View Profile
« Reply #3 on: April 03, 2020, 11:33:33 »

This shouldn't be news; recipients of goods & services should have been doing this anyway, subject to a very minor delay to allow any invoice to be checked for veracity. Time for legislation?

(Yes I do have a degree in 'The Statement Of The Bl**ding Obvious).

NR» (Network Rail - home page) are generally quite quick with its payments to the first level, business know they will get their money from NR.  The second and third tier, NR has a code of practice for the payments by the first tier
Logged

Starship just experienced what we call a rapid unscheduled disassembly, or a RUD, during ascent,”
Do you have something you would like to add to this thread, or would you like to raise a new question at the Coffee Shop? Please [register] (it is free) if you have not done so before, or login (at the top of this page) if you already have an account - we would love to read what you have to say!

You can find out more about how this forum works [here] - that will link you to a copy of the forum agreement that you can read before you join, and tell you very much more about how we operate. We are an independent forum, provided and run by customers of Great Western Railway, for customers of Great Western Railway and we welcome railway professionals as members too, in either a personal or official capacity. Views expressed in posts are not necessarily the views of the operators of the forum.

As well as posting messages onto existing threads, and starting new subjects, members can communicate with each other through personal messages if they wish. And once members have made a certain number of posts, they will automatically be admitted to the "frequent posters club", where subjects not-for-public-domain are discussed; anything from the occasional rant to meetups we may be having ...

 
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.2 | SMF © 2006-2007, Simple Machines LLC Valid XHTML 1.0! Valid CSS!
This forum is provided by customers of Great Western Railway (formerly First Great Western), and the views expressed are those of the individual posters concerned. Visit www.gwr.com for the official Great Western Railway website. Please contact the administrators of this site if you feel that the content provided by one of our posters contravenes our posting rules (email link to report). Forum hosted by Well House Consultants

Jump to top of pageJump to Forum Home Page