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JOCKEY CLUB RACECOURSES (HOLDINGS) LIMITED

Company number: 00806698

Reporting period:
1 January 2018 to 30 June 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 23 July 2018

and approved by Nevin Truesdale

Payment statistics

Average time taken to pay invoices: 28 days

Invoices paid:

• within 30 days: 60%
• in 31 to 60 days: 32%
• in 61 days or more: 8%

Invoices due but not paid within agreed terms: 8 %

Payment terms

Standard payment period for qualifying contracts

45 days

Standard payment terms

Your invoices will be rejected if they do not quote a purchase order number, an official JCR PO number will begin JCRPP followed by 8 digits. Unless specified otherwise in writing or the subject of a separately negotiated written contract all invoices are subject to our Standard Terms and Conditions of Purchase, a copy of which is available from http://www.jockeyclubracecourses.com/about-us/terms-and-conditions

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

No

Maximum contractual payment period agreed

45 days

Any other information about payment terms

N/A

Dispute resolution process

The supplier should initially contact the person who procured the good or service. By far the most common reason for delayed payment is the absence of a PO number on the supplier invoice. If there is no PO number on the invoice then the purchase ledger dept cannot pay an invoice.
If you cannot resolve the invoice dispute with your contact in the business then you should contact the head of procurement

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