RISQS is the supplier assurance scheme of choice for over 80 buyers and 4000+ suppliers and is run by the railway industry for the railway industry. 

Last year we increased our prices for the first time in four years and managed to keep it around 20% behind the compounded CPI rates for the same period. During the last year, RISQS have heavily invested in improving both the scheme development and the scheme portal itself without passing on costs to industry. This included increasing buyer use of the scheme by adding in non-operational rail environments, increasing your opportunity level.

The RISQS senior management team have also continued to make significant cost efficiencies in the operational running of the scheme while delivering the investments mentioned above.

However, it is with regret that due to the CPI twelve-month rate being at 6.8% at our measurement point and business costs still rising beyond our control, we need to deliver a 5% (still sitting behind CPI) price increase to industry from May 2024. 

Please note: If you have received a membership renewal or audit invoice your pricing will not be affected this year. However, all memberships and audits expiring on or from 27 May 2024 that have not already been created and invoiced from the date of this communication will be subject to the new rates. 

These are:

Supplier Membership Rates*

Supplier Rates

Buyer membership rates*

Buyer Rates
*Please note all rates are exclusive of VAT.

As you will see, we have managed costs accordingly to ensure the price increase will still fall below CPI. 

In real terms, the railway industry supply chain will still be protected from full inflationary cost increases. 

How does this affect me?

If you have received a membership renewal or audit invoice, your pricing will not be affected this year. However, all memberships and audits expiring on or from 27th May 2024 that have not already been created and invoiced from the date of this communication will be subject to the new rates listed above. 

Cheques

Please note that we no longer accept cheques as a form of payment. 

If you can only pay by cheque, please contact us so we can discuss how we can support you. (payment@risqs.org) 

FAQs

Q: Can I book my audit early to benefit from the current pricing rate? 

A: Unfortunately, the date when you book your audit does not affect the pricing—the new rates will be effective from the current expiry date of your audit or membership.

Q: How can I check my expiry date to know if this change affects me? 

A: Please log onto the RISQS portal and you will be able to check both your audit and membership expiry dates.

Q: Can I change my expiry date to bring it forward before the new pricing comes in? 

A: Unfortunately not, your annual expiry and membership dates will remain the same.  

Q: As a new supplier to the scheme, I don’t yet have an expiry date—what pricing applies to me? 

A: Unless you have already received an invoice, all new supplier audits are generated with a 16-week advance audit date, therefore if your audit date falls from 27 May onwards the new pricing rates will apply.

Q:How do I book my audit? 

A: The scheduling team will be in contact with you when the diaries are available for booking. Please note they will only book with people listed as ‘authorised contacts’ in your questionnaire, therefore it is worthwhile ensuring this is up to date. To update the portal—RISQS Portal > ‘Your Requirements' page > Commercial Header > Audit Contact Details.

For any further questions please contact info@risqs.org.