Code signatories undertake to:
1. PAY SUPPLIERS ON TIME
:: within the terms agreed at the outset of the contract
:: without attempting to change payment terms retrospectively
:: without changing practice on length of payment for smaller companies on unreasonable grounds
2. GIVE CLEAR GUIDANCE TO SUPPLIERS
:: providing suppliers with clear and easily accessible guidance on payment procedures
:: ensuring there is a system for dealing with complaints and disputes which is communicated to suppliers
:: advising them promptly if there is any reason why an invoice will not be paid to the agreed terms
3. ENCOURAGE GOOD PRACTICE
:: by requesting that lead suppliers encourage adoption of the code throughout their own supply chains
Additionally, signatories undertake to pay suppliers within a maximum of 60 days (in line with late payment legislation requirements), to work towards adopting 30 days as the norm, and to avoid any practices that adversely affect the supply chain."
The Water Mill, Station Road
- Company Number
- Nature of Business
Prompt Payment CodeSource:www.promptpaymentcode.org.uk
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