Score of 90.57/100 qualifies for PaymentCheck Certification
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Oct 2025 - 31 Mar 2026 | 30 Apr 2026 | 16 | 91% | 7% | 2% | 12% |
| 01 Apr 2025 - 30 Sept 2025 | 29 Oct 2025 | 20 | 86% | 10% | 4% | 17% |
| 01 Oct 2024 - 31 Mar 2025 | 29 Apr 2025 | 15 | 92% | 7% | 1% | 11% |
| 01 Apr 2024 - 30 Sept 2024 | 21 Oct 2024 | 18 | 88% | 10% | 2% | 17% |
| 01 Oct 2023 - 31 Mar 2024 | 26 Apr 2024 | 21 | 83% | 13% | 4% | 25% |
| 01 Apr 2023 - 30 Sept 2023 | 30 Oct 2023 | 26 | 74% | 18% | 8% | 35% |
| 01 Oct 2022 - 31 Mar 2023 | 25 Apr 2023 | 21 | 76% | 16% | 8% | 30% |
| 01 Apr 2022 - 30 Sept 2022 | 27 Oct 2022 | 17 | 77% | 17% | 6% | 25% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
It is the company's policy to agree appropriate payment terms with suppliers and to honour those payment terms based on the timely receipt of valid invoices. The company's standard payment terms are 28 days from receipt of invoice. In some instances, we contract with suppliers on their own payment terms which are usually less than the company's standard of 28 days from receipt of invoice. Wherever these differences arise, and so long they are stated within a mutually signed contract, we seek to honour to the supplier's own payment terms following the timely receipt of valid invoices.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
The company seeks to deal with all suppliers in a fair and reasonable manner, aiming to proactively respond to and address queries and/or challenges as soon as they arise. In the event that a financial dispute cannot be resolved by the Transport for Wales Purchase Ledger Team, it would then be escalated to the management team within the finance department. In the event of a contractual dispute, such as the delivery of obligations and/or performance, individual project teams are responsible for addressing it in the first instance, with escalated support provided by the Contract Management Team. Further support is also provided by the Supply Chain Team where multiple disputes become a common practice with any single supplier. Please note that our Percentage of payments not made in the reporting period due to a dispute as disclosed above includes only those contracts which have entered into a formal contractual dispute process. A common reason for invoices being paid late is because of informal queries or disagreements regarding amount or evidence to support the invoice – however we are unable to include this in our reporting, as our finance system does not record this data.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Transport for Wales is a public transport company operating in Wales, United Kingdom. It was established in 2018 and is owned by the Welsh Government.
The company's main focus is to provide sustainable and reliable transportation services to the people of Wales. It operates a range of services including trains, buses, and community transport, with a network spanning over 1,700 miles.
In terms of sustainability, Transport for Wales is committed to reducing its carbon footprint and promoting environmentally-friendly practices. It has introduced electric trains, invested in renewable energy sources, and implemented eco-driving techniques to reduce emissions.
One of the key products offered by Transport for Wales is the Transport for Wales Railcard, which offers discounted fares for students, young people, and seniors. It also offers a range of season tickets and flexible travel options for commuters.
The company is led by a team of experienced individuals, including the CEO James Price, who has a background in the transportation industry. They work closely with the Welsh Government to ensure the smooth running of the company and the provision of high-quality services.
For any inquiries or information, Transport for Wales can be contacted through their website, which is www.tfwrail.wales, or by visiting their registered office at Southgate House, Wood Street, Cardiff, CF10 1EW. Overall, Transport for Wales is dedicated to providing sustainable and efficient transportation services for the people of Wales.
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