Prompt Payment Code - Signatories Pledge

Code signatories pledge to:

Pay suppliers on time

• Within the terms agreed at the outset of the contract, or 30 days, in accordance with legislation
• Without attempting to change payment terms retrospectively
• Without changing practice on length of payment for smaller companies on unreasonable grounds

Give clear guidance to suppliers

• Provide suppliers with clear and easily accessible guidance on payment procedures
• Advise them promptly if there is any reason why an invoice will not be paid to the agreed terms
• Ensure there is a system for dealing with complaints and disputes which is communicated to suppliers

Code signatories agree to:

Encourage good practice

• By requesting that lead suppliers encourage adoption of the code throughout their own supply chains