Score of 86.25/100 qualifies for PaymentCheck Certification
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2025 - 31 Dec 2025 | 23 Jan 2026 | 20 | 88% | 10% | 2% | 27% |
| 01 Jan 2025 - 30 Jun 2025 | 30 Jul 2025 | 30 | 90% | 9% | 1% | 25% |
| 01 Jul 2024 - 31 Dec 2024 | 28 Jan 2025 | 18 | 90% | 8% | 2% | 24% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 26 | 84% | 11% | 5% | 30% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 24 | 81% | 13% | 6% | 36% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 46 | 57% | 23% | 20% | 42% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 39 | 57% | 24% | 19% | 60% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 31 | 68% | 19% | 13% | 38% |
| 01 Jul 2021 - 31 Dec 2021 | 30 Jan 2022 | 29 | 74% | 14% | 12% | 29% |
| 01 Jan 2021 - 30 Jun 2021 | 29 Jul 2021 | 31 | 71% | 18% | 11% | 27% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 30 | 76% | 15% | 9% | 54% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 32 | 62% | 26% | 12% | 48% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 26 | 77% | 13% | 9% | 40% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 27 | 75% | 17% | 8% | 38% |
| 01 Jul 2018 - 31 Dec 2018 | 25 Jan 2019 | 34 | 74% | 16% | 10% | 41% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 36 | 65% | 21% | 14% | 46% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
The company's standard contractual payment term for goods and services, when applied, is 30 days, however alternative periods can be agreed through discussion on a vendor by vendor basis. No changes have been made to the company's standard payment terms in the period, albeit agreements with individual vendors can change from time to time based on discussions with the relevant counterparties.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
All queries are addressed with suppliers by the Accounts Payable team responsible for all Formula 1's UK subsidiaries. The Accounts Payable team seek to resolve queries directly with the suppliers and through liaison with the relevant Formula 1 managers who were responsible for engaging the particular supplier and confirming the receipt, or otherwise, of the relevant goods or services.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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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.
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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.
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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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Formula One Management Limited (FOM) is a British company that manages the Formula One World Championship, the premier international auto racing event. It is responsible for the organization, promotion, and management of all Formula One races, as well as the commercial rights of the sport.
FOM places a strong emphasis on sustainability, implementing various initiatives to reduce their environmental impact. They have implemented a waste management program, reducing the amount of waste generated and promoting recycling and reuse. They also work with race circuits to improve their sustainability practices and minimize the carbon footprint of the sport.
In terms of products and services, FOM provides a range of media and digital content to fans, including live race broadcasts, highlights, and interviews. They also offer a variety of merchandise and licensed products for fans to show their support for their favorite teams and drivers.
The key people at FOM include the CEO, Stefano Domenicali, who oversees the overall management of the company, and the Chairman, Chase Carey, who is responsible for the strategic direction of the sport. Other key figures include the Chief Technical Officer, Ross Brawn, and the Chief Marketing Officer, Sean Bratches.
The contact information for FOM includes their website address, www.formula1.com, where fans can access the latest news, race schedules, and other information about the sport. The registered office address is located in London, UK.
In summary, Formula One Management Limited is a British company that manages the Formula One World Championship, focusing on sustainability and providing a range of products and services to fans. With a team of key people at the helm, FOM continues to drive the success and growth of this prestigious motorsport event.
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