Company number: 01436289
and approved by Stephen Lamb
Average time taken to pay invoices: 46 days
Invoices paid:
Invoices due but not paid within agreed terms: 7%
0 days
90 days
Midwich work with our suppliers to agree contractual terms. The company has current standard terms of 60 days.
Answer not provided
N/A
183 days
No further comment provided
80.9% of overdue invoices are settled within one month of the due date.
Midwich's accounts payable team work closely with the procurement team and the supplier to resolve queries in a timely manner. We operate an escalation process whereby if a resolution is not received within 30 days, the queries get escalated internally. All queries are logged on a central database to enable the accounts payable and the procurement teams to manage queries efficiently.
For example, signatories to The Prompt 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.
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