Firm tells contractors to pay their subcontractors as equally as quickly
Network Rail has pledged to pay its suppliers as promptly as possible during the coronavirus crisis.
The network operator said it was committing to pay its suppliers immediately, or as close to immediately as possible, following approval of the payment ledger.
It also told its suppliers to make payments to its subcontractors as equally as quickly.
Clive Berrington, commercial and procurement director for Network Rail, 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.”
Network Rail said its supply chain had a key role to play during the coronavirus pandemic, ensuring that the railway can continue to get critical medical supplies to hospitals, food to supermarkets, and key workers such as doctors, nurses and police officers to their jobs.