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CAMELOT UK LOTTERIES LIMITED

Company number: 02822203

Reporting period:
1 April 2018 to 30 September 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 26 October 2018

and approved by Nigel Railton

Payment statistics

Average time taken to pay invoices: 52 days

Invoices paid:

• within 30 days: 29%
• in 31 to 60 days: 52%
• in 61 days or more: 19%

Invoices due but not paid within agreed terms: 58 %

Payment terms

Standard payment period for qualifying contracts

30 days

Standard payment terms

Camelot's standard payment terms are net 30 days monthly, this equates to a supplier's invoice being paid within 30 days from the end of the month, following the date of the invoice.

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

In the event of a supplier payment dispute, the supplier should initially contact Camelot's Accounts Payable department by email or telephone. All suppliers are provided with these details in order to be able to do this. The supplier will receive an acknowledgement within 24-48 hours.

The Accounts Payable department aim to resolve disputes within 10 working days.

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