MITIE GROUP PLC
Company number: SC019230
Reporting period:
1 April 2019 to 30 September 2019
Report filed on:
31 October 2019
Approved by:
Paul Woolf
Payment statistics
Average time taken to pay invoices: 34 days
Invoices paid:
- within 30 days: 61%
- in 31 to 60 days: 22%
- in 61 days or more: 17%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 30%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
Payment terms are agreed with our suppliers on a case by case basis depending on the nature of work, length of relationship, and size of the supplier. The majority of our suppliers are paid on terms of 30 days from the end of the month in which the invoice is dated or better, where 14 days and prompt payment may sometimes be agreed. Depending on the agreement reached with the supplier, payment terms of 60 days from the end of the month in which a correct, undisputed and properly due VAT invoice is received may also be agreed. The business also operates a no purchase order, no pay policy, unless otherwise agreed, in exceptional circumstances, by a duly authorised representative. Invoices received, and which do not include a valid purchase order number, are rejected and returned to the third party.
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
We recognise the strategic importance of our supply chain partners, and as such are committed to treating them fairly. Our preference is to always address disputes in a transparent and timely manner, always acting in good faith, through open and constructive discussion. If such discussions fail to resolve a dispute, an authorised representative of the supplier and the company shall, within 30 days of a written request from one party to the other, meet in good faith to resolve the dispute. If the dispute remains unresolved either the supplier or the company shall refer it to mediation in accordance with the Centre for Effective Dispute Resolution ("CEDR") Model Mediation Procedure that is in force at the date of the referral.
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