DONE BROTHERS (CASH BETTING) LIMITED
Company number: 01277703
Reporting period:
2 October 2023 to 31 March 2024
Report filed on:
21 May 2024
Approved by:
Nicola Barr
Payment statistics
Average time taken to pay invoices: 25 days
Invoices paid:
- within 30 days: 81%
- in 31 to 60 days: 14%
- in 61 days or more: 5%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 19%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
Standard payment terms
Done Bros (Cash Betting) Ltd Standard Payment Terms are 30 days from the date of the invoice, unless specifically specified in the contract.
Betfred utilise some small suppliers, often sole traders, and payment terms for these suppliers are fourteen days to ensure that supplier cashflows are not adversely impacted.
Suppliers are informed of standard terms during the account onboarding process, however, we may agree non-standard payment terms if required. This may be by accepting our supplier’s terms or by mutual agreement of shorter, bespoke payment terms.
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
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
Done Bros (Cash Betting) Ltd operate a Purchase to Pay System for the all supplier spend and where there is a dispute regarding delivery or price this will be flagged by the system when the invoice is processed.
When a dispute is identified, the originator of the Purchase Order will request a Credit Note for the disputed items / price variance from the supplier. Where appropriate, part payment may be agreed for goods/services received.
Betfred work to ensure that issues raised by suppliers are both minimised and resolved quickly where they arise. The supplier liaises initially with the immediate business contact, with support from the Accounts Payable team as necessary to resolve.
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