Industry ranking
Score of 95.2/100 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 | 30 Jan 2026 | 12 | 92% | 5% | 3% | 8% |
| 01 Jan 2025 - 30 Jun 2025 | 30 Jul 2025 | 12 | 93% | 4% | 3% | 7% |
| 01 Jul 2024 - 31 Dec 2024 | 23 Jan 2025 | 15 | 84% | 9% | 7% | 15% |
| 01 Jan 2024 - 30 Jun 2024 | 10 Jul 2024 | 19 | 85% | 9% | 6% | 15% |
| 01 Jul 2023 - 31 Dec 2023 | 08 Feb 2024 | 19 | 87% | 8% | 5% | 13% |
| 01 Jan 2023 - 30 Jun 2023 | 31 Jul 2023 | 20 | 84% | 9% | 7% | 16% |
| 01 Jul 2022 - 31 Dec 2022 | 19 Jan 2023 | 18 | 83% | 8% | 9% | 17% |
| 01 Jan 2022 - 30 Jun 2022 | 25 Jul 2022 | 20 | 85% | 7% | 8% | 15% |
| 01 Jul 2021 - 31 Dec 2021 | 17 Jan 2022 | 28 | 80% | 8% | 12% | 20% |
| 01 Jan 2021 - 30 Jun 2021 | 28 Jul 2021 | 26 | 73% | 13% | 14% | 27% |
| 01 Jul 2020 - 31 Dec 2020 | 21 Jan 2021 | 25 | 68% | 14% | 18% | 32% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 23 | 71% | 16% | 13% | 29% |
| 01 Jul 2019 - 31 Dec 2019 | 20 Jan 2020 | 19 | 81% | 10% | 9% | 41% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 14 | 89% | 7% | 4% | 30% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 14 | 91% | 6% | 3% | 29% |
| 01 Jan 2018 - 30 Jun 2018 | 18 Jul 2018 | 3 | 100% | 0% | 0% | 0% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
30 days following the receipt of a valid invoice
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
There are no further information about payment terms, but to flag , There was duplications of invoices that were not paid until H2 but have been reported as paid within 30 days in H1 along with a credit note. This inflate the spend figures in H1.
Maximum contractual payment period agreed
30
If a supplier has a dispute or complaint then they can raise it with us through our dispute resolution procedure which we set out in our contracts. This procedure would start with the supplier notifying us of the dispute or complaint and then the parties will attempt in good faith to negotiate a settlement within 30 days. This can involve escalation of the dispute to the Chief Finance Officer (or equivalent) of each party. If the dispute cannot be resolved then the procedure allows the supplier to take the dispute to arbitration under the London Court of International Arbitration procedural rules and the decision of the arbitrator shall be final and binding on the parties.
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.
❌
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
Motor Insurers' Bureau (MIB) is a UK organisation that helps victims of uninsured, untraced or foreign-registered drivers make claims for compensation. It also provides tools for the public to check vehicle insurance status, guidance on required cover, and support after accidents involving uninsured drivers. MIB works with insurers, brokers, solicitors, claims handlers and police, and manages data services used by professionals in the sector. Its stated aim is to reduce uninsured driving and improve road safety, funded by the UK motor insurance industry. The organisation has operated since 1946 and is based in Milton Keynes.
Generated from the company's website and Companies House records. Sources: mib.org.uk · mib.org.uk