The average time taken for THE MINES ADVISORY GROUP to pay invoices has decreased by 22.2% from 2016 to 2017.
The percentage of invoices paid within 30 days has increased by 14.3% from 2016 to 2017. The percentage of invoices paid later than 60 days has decreased by 20% from 2016 to 2017. The percentage of invoices not paid within agreed terms has decreased by 50% from 2016 to 2017.
From Jul 2016 to Jun 2017, THE MINES ADVISORY GROUP took an average of 28 days to pay invoices to suppliers. This is a decrease of 22.2% from the previous period (Jul 2015 to Jun 2016). The percentage of invoices paid within 30 days increased by 14.3%, while the percentage of invoices paid later than 60 days decreased by 20%. The percentage of invoices not paid within agreed terms decreased by 50%. The shortest standard payment period was 30 days.
| 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 2016 - 30 Jun 2017 | 16 Mar 2018 | 28 | 88% | 8% | 4% | 2% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Payment within 30 days of invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
30
Contact the supplier and ask for information to resolve.
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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
The Mines Advisory Group, trading as MAG, is a registered charitable company that finds, removes and destroys landmines, cluster munitions and unexploded bombs in areas affected by conflict. It also runs risk education programmes, particularly for children, and works with communities on weapons and ammunition management to reduce armed violence. Founded in 1989, MAG states it has helped over 20 million people across 70 countries and shared the 1997 Nobel Peace Prize for its role in banning landmines. The organisation is based in Manchester and combines humanitarian clearance work with advocacy and campaigning aimed at improving safety and security in post-conflict communities.
Generated from the company's website and Companies House records. Sources: maginternational.org · maginternational.org · maginternational.org