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Mon December 04 2023

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Network Rail commits to immediate invoice payment

2 Apr 20 Network Rail has committed to paying the invoices of its suppliers as soon as it gets them – or as close to immediately as possible.

It said that it was speeding up its payment systems to support and strengthen the extensive supply chain that keeps Britain’s railway moving.

Network Rail said that SME suppliers could expect to see their money up to seven days quicker, and up to 28 days quicker for other suppliers.

That's the good news.

The bad news is that this is only a temporary measure, in a response to the current crisis facing the supply chain in the coronavirus lockdown. It seems unlikely to last beyond the pandemic as it "remains under review based on the Covid-19 position".

Commercial and procurement director Clive Berrington said: “Our priority is to support the supply chain as much as possible through these unprecedented times. We have therefore moved all our suppliers to immediate payment terms, or as close as you can get following approval of the invoice, and we expect that to flow down to the supply chain. Together, we can help to ensure we have a strong supply chain when we emerge from this pandemic.”

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