NSW LotteriesChanges to the Settlement Procedure
Newsagents are reminded that NSW Lotteries will be starting dual sweeps on Tuesdays and Fridays from week starting Monday 6 July 2015. This change was reflected in the new Lotteries Franchise Agreement and operations manual effective from 1 July 2015. This change will be consistent with other lottery jurisdictions.NANA was not supportive of this change and expressed this to Tatts and the Government at various meetings and mediation to no avail.Click here to tell us how this affects your business by completing a short 4 question survey. The below sets out the relevant accounting periods.First accounting periodThe first accounting period will be from Monday morning to Wednesday midnight for the direct debit/EFT sweep occurring on the following Friday. This sweep will be in the Settlement Report available from the terminal each Thursday morning.Second accounting periodThe second accounting period will be from Thursday morning to Sunday midnight for the direct debit/EFT sweep occurring on the following Tuesday. This sweep will be in the Settlement Report available from the terminal each Monday morning.SWEEPFOR ACCOUNTING PERIODSETTLEMENT REPORTTuesday 7 JulyMonday 29 June – Sunday 5 JulyMonday 6 JulyFriday 10 JulyMonday 6 July – Wednesday 8 JulyThursday 9 JulyTuesday 14 JulyThursday 9 July – Sunday 12 JulyMonday 13 JulyFriday 17 JulyMonday 13 July – Wednesday 15 JulyThursday 16 JulyTuesday 21 JulyThursday 16 July – Sunday 19 JulyMonday 20 JulyAnd ongoing… Cleared funds must be available in the Outlet’s nominated bank account by 4pm each Tuesday and Friday (subject to those days not being recognised public holidays as listed in the Outlet Procedures Manual) unless otherwise advised by NSW Lotteries.For details regarding settlement, reporting, accounting periods and default procedures, please refer to the Outlet Procedures Manual, NSW Lotteries Franchise Agreement, or contact your Retail Territory Manager.
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