Public transport contract payments and reimbursements

These are our payment schedules:

Payment	Frequency	Payment terms*
Concessionary Fares Interim payments	Monthly	1st of each month
Concessionary Fares Quarterly reconciliation payments	Quarterly	The previous quarter is paid at the end of each quarter, meaning: Q1 paid end Q2 30 September  Q2 paid end Q3 31 December  Q3 paid end Q4 31 March Q4 paid end Q1 30 June in next finance year  We aim to have this paid by the 30/31 of those quarters normally alongside the interim.
Freedom Pass payments	Monthly	30 days from 1st of each month
Stat returns for supported contracts	4 weekly	30 days from receipt
Hired contract payments (where applicable)	Monthly	30 days from receipt

In all cases we will try to pay earlier where it is 30 days terms but we cannot guarantee this every month in all cases.

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