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.