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INSPIRED GAMING (UK) LIMITED

Company number: 03565640

Reporting period:
1 January 2021 to 30 June 2021

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

This report was filed on 29 July 2021

and approved by Stewart Baker

Payment statistics

Average time taken to pay invoices: 66 days

Invoices paid:

• within 30 days: 27%
• in 31 to 60 days: 35%
• in 61 days or more: 38%

Invoices due but not paid within agreed terms: 61 %

Payment terms

Standard payment period for qualifying contracts

60 days

Standard payment terms

Our standard payment terms are 60 days. Some of our larger suppliers are on 90 days and in special circumstances we agree lower payment terms with SME suppliers were the annual spend is less than £5,000.

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

No

Maximum contractual payment period agreed

90 days

Any other information about payment terms

N/A

Dispute resolution process

Suppliers are contacted to notify them there is an issue with the invoice. The business representative who ordered the goods/services from the supplier then works alongside the finance team to resolve the issue with their contact at the supplier along with their finance representatives.

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