LADBROKES CORAL GROUP LIMITED
Company number: 00566221
Reporting period:
1 January 2018 to 30 June 2018
Report filed on:
30 July 2018
Approved by:
Rob Wood
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 29%
- in 61 days or more: 22%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
60 days
Standard payment terms
The Ladbrokes Coral Group’s (LC) standard contractual length for payments of invoices is 45 days. Because LC is made up of Coral Racing (60 Days) and Ladbrokes Betting and Gaming (45 Days) our longest standard payment period is 60 days.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
N/A
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 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