Benefits of the Prompt Payment Code
Businesses, suppliers and consumers prefer to transact with businesses that pay their invoices on time.
By pledging payment certainty under the Prompt Payment Code, you can:
- Enhance your reputation which makes you more attractive to suppliers.
- Build strong relationships with suppliers by providing cash-flow certainty.
- Secure better terms from your suppliers, for example, it makes you the ideal customer to offer a discount.
- Avoid late interest and compensation payments.
- Demonstrate good Corporate Social Responsibility: By agreeing to timely payment you are contributing to the local and national economy, helping to keep small businesses in operation and helping to maintain and sustain employment.