Company number: 01013210
and approved by Matthew Idle
Average time taken to pay invoices: 43 days
Invoices paid:
Invoices due but not paid within agreed terms: 7%
60 days
Answer not provided
Our standard payment terms state that payment of supplier invoices for goods and services will be made 60 days from the date of a properly formatted and undisputed VAT invoice, unless otherwise agreed by a duly authorised representative. 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 supplier.
SME suppliers were to moved to more favourable terms of 30 days and any suppliers on terms of over 60 days end of month were moved to a more favourable 60 days date of invoice.
N/A
60 days
No further comment provided
Over the course of the last 12 months, Mitie has made a significant number of changes to its accounts payable processes. At times, unfortunately, this has resulted in unintended disruption, impacting our payment performance. To address this, Mitie is actively working to improve our processes to ensure there is an overall improvement in our payment practices and our paid-on time performance. These process improvements have resulted in the percentage of invoices paid over 60 days to fall from 55% to 11% These improvements continue to be implemented and positively impact on the performance
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.
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Prompt Payment Code
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
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
No
No