SNC-Lavalin Rail & Transit Limited pays suppliers in 26 days on average — inside its 30-day stated terms

Standard payment terms

Our standard supplier payment period is 30 days from date of invoice. Certain suppliers have shorter payment terms but none have longer terms. Therefore, 30 days represents our maximum contractual payment period. There were no changes to our standard contractual payment terms during the reporting period. The wording of the ‘Price and Payment’ clause in our standard form of contract is as follows: Subject to the Supplier performing its obligations in accordance with the terms of this Contract, AtkinsRéalis will pay the Price to the Supplier in accordance with this Clause. The Price is inclusive of all: Costs and expenses incurred by the Supplier, including all packaging, insurance, carriage and Delivery costs; Travel, accommodation and subsistence expenses; and Royalties,

Dispute resolution

Purchase invoices are routed for approval via our electronic work flow system. Where the nominated approver declines to approve the invoice, the reason is communicated via the work flow to our finance shared services team. The supplier is then contacted to advise of the dispute, providing the stated reason and the contact details of the employee who declined the invoice. The supplier is asked to liaise with the latter to resolve the dispute. Once the dispute is resolved, the invoice will be approved within the work flow system and scheduled for payment within one week. In some cases, invoice approval is done by the finance shared services team by means of ‘three-way matching’ against purchase orders and system ‘goods received notes’ or by checking against timesheets and agreed hourl