LADBROKES BETTING & GAMING LIMITED
Company number: 00775667
Reporting period:
1 January 2019 to 30 June 2019
Report filed on:
8 August 2019
Approved by:
Mitch Singer
Payment statistics
Average time taken to pay invoices: 53 days
Invoices paid:
- within 30 days: 27%
- in 31 to 60 days: 53%
- in 61 days or more: 20%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 28%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
Ladbrokes Coral Group’s current standard contractual length for payments of invoices is 45 days. Prior to the merger in November 2016 Coral Racing’s standard contractual length was 60 days, which the previous report was measured at. As all payments are now made through Ladbrokes Betting and Gaming, using Oracle, the payments shall only be measured at 45 day payment terms.
Were there any changes to the standard payment terms in the reporting period?
The standard payment terms have changed from 60 to 45 days.
Were suppliers notified or consulted about these changes before they were made?
Yes – Ladbrokes Betting and Gaming reviewed the supplier base on the legacy Coral Racing P2P system, JDE, and sent letters and emails to each of the suppliers communicating that the previous contracting entity of Coral Racing would now be replaced with Ladbrokes Betting and Gaming. The legacy supplier's payment terms were kept the same, however any future new supplier to be added to the new P2P system, Oracle, was set up with the standard 45 day payment terms.
Maximum contractual payment period agreed
45 days
No further comment provided
Any other information about payment terms
No further comment provided
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 Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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