The average time taken for MISHCON DE REYA LLP to pay invoices has been slightly fluctuating over the past three periods, but overall has remained relatively consistent. However, there has been a slight decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid later than 60 days in the most recent period.
The volatility in MISHCON DE REYA LLP's payment behavior can be seen in the varying percentages of invoices paid within 30 days and later than 60 days. This suggests that the company may not have a consistent payment policy and may be influenced by external factors.
Looking at the past three periods, there has been a slight decrease in the average time taken for MISHCON DE REYA LLP to pay invoices, with a decrease of 4% from the first period to the most recent period. However, there has been a decrease in the percentage of invoices paid within 30 days and an increase in the percentage of invoices paid later than 60 days in the most recent period.
| 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 |
|---|---|---|---|---|---|---|
| 10 Apr 2023 - 30 Sept 2023 | 31 Oct 2023 | 52 | 49% | 22% | 28% | 53% |
| 10 Oct 2022 - 09 Apr 2023 | 03 May 2023 | 51 | 54% | 21% | 26% | 47% |
| 10 Apr 2022 - 09 Oct 2022 | 25 Oct 2022 | 50 | 49% | 24% | 27% | 51% |
| 10 Oct 2021 - 09 Apr 2022 | 27 Apr 2022 | 49 | 48% | 27% | 25% | 53% |
| 10 Apr 2021 - 09 Oct 2021 | 11 Oct 2021 | 53 | 46% | 27% | 27% | 54% |
| 10 Oct 2020 - 09 Apr 2021 | 13 Apr 2021 | 58 | 42% | 30% | 28% | 58% |
| 10 Apr 2020 - 09 Oct 2020 | 21 Oct 2020 | 59 | 39% | 33% | 28% | 62% |
| 10 Oct 2019 - 09 Apr 2020 | 04 May 2020 | 51 | 53% | 19% | 28% | 43% |
| 10 Apr 2019 - 09 Oct 2019 | 15 Oct 2019 | 43 | 59% | 17% | 24% | 43% |
| 10 Oct 2018 - 09 Apr 2019 | 03 May 2019 | 44 | 62% | 16% | 22% | 40% |
| 10 Apr 2018 - 09 Oct 2018 | 02 Nov 2018 | 40 | 64% | 16% | 20% | 36% |
| 10 Oct 2017 - 09 Apr 2018 | 03 May 2018 | 42 | 64% | 14% | 22% | 35% |
| 10 Apr 2017 - 09 Oct 2017 | 08 Nov 2017 | 44 | 64% | 14% | 22% | 35% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Mishcon shall pay the charges for trade suppliers within 30 days of receipt of an accurate and valid VAT Invoice, unless agreed otherwise with a trade supplier. Mishcon shall only be obliged to make payment where Mishcon is satisfied that the work has been performed in accordance with agreement with the supplier. The business' standard terms relating to payment for suppliers of disbursement and counsel services are 2 business days from receipt of the payment of these costs form our clients, unless agreed otherwise with the supplier.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
If there is a disagreement, Mishcon and the supplier shall negotiate and settle the disagreement. If there is no settlement within 10 business days, nominated representatives of both parties shall meet to try to resolve the matter. If the matter is not resolved within 20 business days (or longer as agreed by the parties), the matter may be referred to a meeting between the managing partner and managing director of both parties. If any such meeting fails to result in a settlement within 20 business days of such referral the matter may be referred to the courts
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
Mishcon de Reya LLP is a firm of solicitors registered in England, with its office at Africa House, 70 Kingsway, London. The available evidence, drawn from a notary's website, confirms only that the notary in question operates from within the solicitors' premises, describing Mishcon de Reya as a firm of solicitors. No further detail on the firm's specific legal practice areas or client services is provided in the supplied material. The entity is recorded as an active limited liability partnership incorporated in 2015, operating within the legal services sector as confirmed by structured company records.
Generated from the company's website and Companies House records. Sources: albury-notarial.co.uk