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LADBROKES CORAL GROUP LIMITED

Company number: 00566221

Reporting period:
1 July 2018 to 31 December 2018

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This information is as reported by the business, and responses are in their own words.

This report was filed on 8 August 2019

and approved by Mitch Singer

Payment statistics

Average time taken to pay invoices: 51 days

Invoices paid:

• within 30 days: 51%
• in 31 to 60 days: 27%
• in 61 days or more: 22%

Invoices due but not paid within agreed terms: 32 %

Payment terms

Shortest standard payment period

45 days

Longest standard payment period

60 days

Standard payment terms

Ladbrokes Coral Group’s (LC) current standard contractual length for payments of invoices is 45 days. Prior to the merger in November 2016 Coral’s standard contractual length was 60 days. Hence for this report the data shall be measured at 60 days payment terms. The next report shall measure LCG’s performance at 45 days payment terms.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

Any other information about payment terms

N/A

Dispute resolution process

The standard dispute resolution process requires in the first instance, the Buyer and Seller use reasonable endeavours and act in good faith to resolve any disputes or claims that may arise. Failure to find a solution will result in the escalation of the dispute to manager, then director level.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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.

No

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.

No

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?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No